VNET Group Target of Unusually Large Options Trading (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 9,989 put options on the company. This represents an increase of 1,010% compared to the average daily volume of 900 put options.

VNET Group Stock Up 2.7 %

Shares of NASDAQ VNET opened at $4.19 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87. VNET Group has a 1 year low of $1.39 and a 1 year high of $4.39. The stock’s 50-day simple moving average is $2.47 and its 200-day simple moving average is $2.13. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -1.59, a PEG ratio of 8.20 and a beta of -0.32.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The firm had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. As a group, equities analysts anticipate that VNET Group will post 0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on VNET. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup started coverage on shares of VNET Group in a research report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in shares of VNET Group by 89.1% in the 2nd quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock worth $6,229,000 after acquiring an additional 1,400,683 shares in the last quarter. AXA S.A. bought a new position in VNET Group during the second quarter worth $65,000. Ballentine Partners LLC acquired a new position in VNET Group in the second quarter worth $36,000. Maso Capital Partners Ltd increased its stake in VNET Group by 15.6% during the first quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock valued at $2,873,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 39,050 shares during the period. 72.83% of the stock is currently owned by institutional investors.

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.