Stock Traders Buy Large Volume of VNET Group Call Options (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the recipient of unusually large options trading on Wednesday. Investors purchased 6,117 call options on the stock. This is an increase of 420% compared to the typical volume of 1,176 call options.

Institutional Trading of VNET Group

A number of large investors have recently bought and sold shares of VNET. Wolverine Trading LLC bought a new stake in shares of VNET Group in the 3rd quarter valued at about $46,000. Blue Trust Inc. boosted its position in VNET Group by 29.1% during the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 12,237 shares during the period. Walleye Capital LLC acquired a new position in shares of VNET Group in the third quarter valued at $115,000. AXA S.A. acquired a new stake in shares of VNET Group during the 2nd quarter worth about $65,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of VNET Group during the 3rd quarter worth about $191,000. 72.83% of the stock is owned by institutional investors.

VNET Group Stock Up 1.0 %

NASDAQ:VNET opened at $6.36 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -2.86, a P/E/G ratio of 0.53 and a beta of -0.24. The stock’s fifty day simple moving average is $4.43 and its 200-day simple moving average is $3.40. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a 12-month low of $1.39 and a 12-month high of $6.56.

Analyst Ratings Changes

VNET has been the subject of a number of research reports. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group increased their target price on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Hsbc Global Res raised VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, VNET Group has a consensus rating of “Buy” and an average target price of $4.78.

About VNET Group

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.