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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 6,117 call options on the company. This represents an increase of approximately 420% compared to the typical volume of 1,176 call options.

Wall Street Analyst Weigh In

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

VNET Group Price Performance

NASDAQ VNET opened at $6.85 on Friday. VNET Group has a 1 year low of $1.39 and a 1 year high of $6.86. The business’s fifty day moving average is $4.50 and its two-hundred day moving average is $3.43. The stock has a market capitalization of $1.76 billion, a P/E ratio of -3.09, a P/E/G ratio of 0.59 and a beta of -0.24. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

Institutional Investors Weigh In On VNET Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Wolverine Trading LLC acquired a new stake in VNET Group during the 3rd quarter worth about $46,000. AXA S.A. acquired a new stake in shares of VNET Group during the second quarter valued at approximately $65,000. Walleye Capital LLC purchased a new stake in shares of VNET Group in the 3rd quarter valued at approximately $115,000. Blue Trust Inc. boosted its stake in VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after purchasing an additional 37,322 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in VNET Group in the 3rd quarter worth approximately $191,000. 72.83% of the stock is owned by institutional investors and hedge funds.

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.