VNET Group, Inc. (NASDAQ:VNET) Sees Significant Increase in Short Interest

VNET Group, Inc. (NASDAQ:VNET) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 6,060,000 shares, an increase of 31.2% from the October 31st total of 4,620,000 shares. Based on an average daily volume of 2,020,000 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On VNET Group

Several large investors have recently bought and sold shares of the business. Ballentine Partners LLC bought a new position in VNET Group during the second quarter valued at $36,000. Wolverine Trading LLC purchased a new position in shares of VNET Group during the 3rd quarter worth about $46,000. AXA S.A. bought a new position in shares of VNET Group during the second quarter valued at approximately $65,000. Walleye Capital LLC bought a new position in VNET Group in the 3rd quarter valued at $115,000. Finally, Blue Trust Inc. grew its holdings in shares of VNET Group by 785.4% in the third 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 last quarter. Institutional investors own 72.83% of the company’s stock.

Analyst Upgrades and Downgrades

VNET has been the topic of several recent analyst reports. UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a research report on Wednesday, October 9th. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.10 to $5.00 in a report on Friday. Finally, Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $4.78.

VNET Group Trading Up 0.5 %

Shares of VNET stock opened at $3.88 on Friday. The stock’s 50-day moving average price is $3.69 and its 200-day moving average price is $2.72. VNET Group has a 12-month low of $1.39 and a 12-month high of $4.50. The stock has a market capitalization of $998.70 million, a price-to-earnings ratio of -1.75 and a beta of -0.27. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $274.35 million for the quarter, compared to the consensus estimate of $266.56 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Equities research analysts predict that VNET Group will post -0.01 EPS for the current fiscal year.

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.