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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 15,633 call options on the company. This is an increase of approximately 215% compared to the average volume of 4,969 call options.

VNET Group Stock Down 5.7 %

Shares of VNET Group stock opened at $8.48 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a 1-year low of $1.42 and a 1-year high of $16.13. The business’s fifty day moving average price is $9.81 and its two-hundred day moving average price is $5.96. The company has a market capitalization of $2.18 billion, a P/E ratio of -3.82, a PEG ratio of 1.01 and a beta of 0.07.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, research analysts forecast that VNET Group will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

Institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in VNET Group during the 4th quarter valued at $41,000. Wolverine Trading LLC bought a new position in VNET Group during the 3rd quarter valued at $46,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the 4th quarter valued at $54,000. Finally, Hsbc Holdings PLC bought a new stake in shares of VNET Group in the 4th quarter worth $66,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VNET has been the subject of several recent research reports. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $3.10 to $5.00 in a report on Friday, November 29th. Citigroup boosted their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. UBS Group boosted their price target on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. Finally, StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $9.30.

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.