VNET Group Target of Unusually Large Options Trading (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the target of unusually large options trading activity on Wednesday. Traders acquired 34,425 call options on the company. This represents an increase of 938% compared to the typical volume of 3,315 call options.

Analysts Set New Price Targets

VNET has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Nomura Securities raised VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Finally, UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.78.

VNET Group Stock Up 16.4 %

Shares of VNET stock opened at $12.47 on Thursday. The company’s fifty day simple moving average is $8.11 and its two-hundred day simple moving average is $5.08. VNET Group has a 52 week low of $1.42 and a 52 week high of $16.13. The stock has a market cap of $3.21 billion, a P/E ratio of -5.62, a PEG ratio of 1.01 and a beta of -0.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Institutional Investors Weigh In On VNET Group

A number of hedge funds have recently made changes to their positions in VNET. Geode Capital Management LLC grew its holdings in VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the 4th quarter valued at approximately $152,000. JPMorgan Chase & Co. grew its holdings in shares of VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after purchasing an additional 136,783 shares in the last quarter. Virtu Financial LLC bought a new stake in VNET Group in the third quarter worth $519,000. Finally, SG Americas Securities LLC raised its stake in VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after purchasing an additional 343,140 shares in the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.