VNET Group Sees Unusually Large Options Volume (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 9,620 call options on the company. This is an increase of 459% compared to the typical volume of 1,721 call options.

Analysts Set New Price Targets

Several research firms have issued reports on VNET. UBS Group lifted their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $3.10 to $5.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $4.78.

Institutional Investors Weigh In On VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of VNET. Geode Capital Management LLC increased its position in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after buying an additional 210,124 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of VNET Group by 136,783.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after acquiring an additional 136,783 shares during the period. Virtu Financial LLC acquired a new position in shares of VNET Group during the 3rd quarter worth approximately $519,000. SG Americas Securities LLC increased its holdings in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after acquiring an additional 343,140 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in VNET Group by 785.4% during the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares during the last quarter. 72.83% of the stock is owned by institutional investors.

VNET Group Trading Up 13.4 %

Shares of VNET stock opened at $11.31 on Thursday. The company has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $4.03. VNET Group has a one year low of $1.42 and a one year high of $11.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.