Investors Purchase High Volume of VNET Group Call Options (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) saw some unusual options trading on Wednesday. Traders acquired 34,425 call options on the company. This represents an increase of 938% compared to the typical daily volume of 3,315 call options.

VNET Group Stock Performance

NASDAQ:VNET traded up $1.65 during mid-day trading on Wednesday, reaching $12.36. 10,022,402 shares of the stock were exchanged, compared to its average volume of 9,249,307. The stock has a market capitalization of $3.18 billion, a P/E ratio of -5.56, a P/E/G ratio of 1.01 and a beta of -0.18. VNET Group has a 1 year low of $1.42 and a 1 year high of $16.13. The company has a 50 day simple moving average of $8.11 and a 200-day simple moving average of $5.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Hedge Funds Weigh In On VNET Group

A number of hedge funds have recently modified their holdings of the business. Vident Advisory LLC raised its position in VNET Group by 91.6% in the 4th quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider’s stock valued at $1,343,000 after purchasing an additional 135,467 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of VNET Group in the fourth quarter valued at about $132,000. Two Sigma Investments LP acquired a new stake in shares of VNET Group during the fourth quarter worth about $2,911,000. Triata Capital Ltd purchased a new position in shares of VNET Group during the fourth quarter worth about $47,377,000. Finally, Sig Brokerage LP acquired a new position in VNET Group in the 4th quarter valued at about $270,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VNET has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group upped their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. Finally, Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $4.78.

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.