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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNETGet Free Report) was the target of unusually large options trading on Tuesday. Stock traders bought 10,362 call options on the company. This represents an increase of 79% compared to the typical daily volume of 5,785 call options.

Insider Buying and Selling

In related news, Director David Lifeng Chen sold 83,544 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total transaction of $126,151.44. Following the sale, the director directly owned 334,164 shares in the company, valued at $504,587.64. This represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by company insiders.

Institutional Trading of VNET Group

Hedge funds have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new stake in VNET Group during the 1st quarter worth $25,000. Global Retirement Partners LLC acquired a new stake in VNET Group during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC raised its stake in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,426 shares during the period. Parallel Advisors LLC raised its stake 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 during the period. Finally, Allianz SE acquired a new stake in VNET Group during the 4th quarter worth $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on VNET shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $23.55 price objective on shares of VNET Group in a research report on Monday, March 16th. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Bank of America reissued a “buy” rating on shares of VNET Group in a research note on Monday, March 16th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.08.

Get Our Latest Analysis on VNET

VNET Group Trading Down 1.1%

Shares of VNET stock traded down $0.10 during trading hours on Tuesday, reaching $9.04. The company had a trading volume of 3,081,480 shares, compared to its average volume of 6,308,107. The company has a 50 day moving average of $9.11 and a 200 day moving average of $9.71. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -31.48 and a beta of 0.19. VNET Group has a 1-year low of $5.14 and a 1-year high of $14.48.

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

About VNET Group

(Get Free Report)

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.

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