Investors Buy High Volume of VNET Group Call Options (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the target of some unusual options trading on Wednesday. Investors acquired 9,620 call options on the stock. This is an increase of approximately 459% compared to the average daily volume of 1,721 call options.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after purchasing an additional 852,519 shares during the period. HCEP Management Ltd acquired a new stake in shares of VNET Group in the fourth quarter worth $2,491,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of VNET Group in the fourth quarter worth $1,811,000. Norges Bank purchased a new position in shares of VNET Group during the fourth quarter valued at $1,708,000. Finally, Jump Financial LLC acquired a new position in VNET Group during the fourth quarter valued at $1,694,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Trading Up 3.9 %

Shares of VNET opened at $11.75 on Friday. The business’s 50-day moving average price is $5.89 and its 200 day moving average price is $4.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $3.02 billion, a P/E ratio of -5.29, a P/E/G ratio of 0.78 and a beta of -0.18. VNET Group has a 1-year low of $1.42 and a 1-year high of $11.77.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group boosted their price target 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. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $3.10 to $5.00 in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $4.78.

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.