VNET Group Sees Unusually Large Options Volume (NASDAQ:VNET)

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 10,362 call options on the company. This represents an increase of approximately 79% compared to the typical volume of 5,785 call options.

Insider Buying and Selling at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total transaction of $126,151.44. Following the completion of the transaction, the director owned 334,164 shares in the company, valued at approximately $504,587.64. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. grew its stake in shares of VNET Group by 3.0% in 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 in the last quarter. Lido Advisors LLC purchased a new position in shares of VNET Group in the 1st quarter worth $126,000. Dimensional Fund Advisors LP grew its stake in shares of VNET Group by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider’s stock worth $12,330,000 after buying an additional 209,694 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Dorsey Wright & Associates lifted its holdings in shares of VNET Group by 41.8% in the 1st quarter. Dorsey Wright & Associates now owns 315,553 shares of the information technology services provider’s stock worth $2,647,000 after acquiring an additional 93,071 shares during the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Stock Performance

Shares of NASDAQ:VNET opened at $11.28 on Thursday. VNET Group has a 52 week low of $5.14 and a 52 week high of $14.48. The stock has a market capitalization of $3.05 billion, a P/E ratio of -38.90 and a beta of 0.19. The firm has a fifty day simple moving average of $9.09 and a two-hundred day simple moving average of $9.72. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.68.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%.The business had revenue of $384.07 million during the quarter, compared to analysts’ expectations of $368.64 million. On average, analysts expect that VNET Group will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VNET. Jefferies Financial Group restated a “buy” rating and set a $23.55 target price on shares of VNET Group in a research report on Monday, March 16th. Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Finally, Bank of America restated a “buy” rating on shares of VNET Group in a research report on Monday, March 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.08.

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.