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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) was the target of some unusual options trading on Wednesday. Traders acquired 9,952 call options on the stock. This is an increase of 89% compared to the average daily volume of 5,273 call options.

Institutional Investors Weigh In On VNET Group

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of VNET Group during the second quarter worth $54,199,000. Temasek Holdings Private Ltd increased its stake in VNET Group by 988.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock valued at $27,522,000 after buying an additional 2,954,350 shares during the period. BNP Paribas Financial Markets raised its position in VNET Group by 674.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after buying an additional 2,911,604 shares during the last quarter. Infini Capital Management Ltd raised its position in VNET Group by 39.2% during the 2nd quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after buying an additional 2,747,661 shares during the last quarter. Finally, Farallon Capital Management LLC lifted its stake in shares of VNET Group by 83.3% in the 3rd quarter. Farallon Capital Management LLC now owns 5,489,120 shares of the information technology services provider’s stock worth $56,703,000 after acquiring an additional 2,495,000 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Stock Performance

Shares of VNET traded up $0.24 during mid-day trading on Wednesday, hitting $9.57. 3,844,157 shares of the company’s stock were exchanged, compared to its average volume of 7,025,000. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. VNET Group has a fifty-two week low of $4.65 and a fifty-two week high of $14.48. The business’s 50 day moving average is $11.10 and its two-hundred day moving average is $9.90. The firm has a market capitalization of $2.57 billion, a P/E ratio of -32.94, a P/E/G ratio of 0.74 and a beta of 0.01.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.38%. The company had revenue of $384.07 million during the quarter, compared to analyst estimates of $368.64 million. On average, equities analysts expect that VNET Group will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $23.55 price target on shares of VNET Group in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Finally, Bank of America restated a “buy” rating on shares of VNET Group in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, VNET Group presently has an average rating of “Hold” and a consensus target price of $18.08.

VNET Group Company Profile

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.