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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) saw unusually large options trading activity on Wednesday. Traders bought 23,406 call options on the stock. This is an increase of 348% compared to the average daily volume of 5,230 call options.

Institutional Trading of VNET Group

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its stake in VNET Group by 3.0% during the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock worth $316,000 after buying an additional 1,098 shares during the period. Parallel Advisors LLC lifted its holdings in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after buying an additional 1,160 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in VNET Group by 6.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock valued at $222,000 after buying an additional 1,237 shares during the period. EverSource Wealth Advisors LLC boosted its position in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,426 shares during the period. Finally, Raymond James Financial Inc. grew its stake in shares of VNET Group by 14.5% in the third quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after acquiring an additional 1,446 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Down 5.3%

Shares of VNET Group stock traded down $0.36 on Wednesday, reaching $6.39. The company had a trading volume of 743,997 shares, compared to its average volume of 6,429,078. VNET Group has a 52-week low of $5.91 and a 52-week high of $14.48. The firm’s 50 day moving average price is $7.22 and its two-hundred day moving average price is $8.63. The firm has a market cap of $1.73 billion, a PE ratio of -4.49 and a beta of 0.27. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The firm had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $401.77 million. Sell-side analysts predict that VNET Group will post -0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings downgraded VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Jefferies Financial Group reiterated a “buy” rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 target price on shares of VNET Group in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of VNET Group in a report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price target on the stock. Finally, Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.90.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.