VNET Group, Inc. (NASDAQ:VNET) Short Interest Up 31.2% in November

VNET Group, Inc. (NASDAQ:VNET) was the recipient of a significant increase in short interest during the month of 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 trading volume of 2,020,000 shares, the short-interest ratio is currently 3.0 days.

VNET Group Stock Up 0.5 %

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

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

Wall Street Analyst Weigh In

VNET has been the subject of several recent analyst reports. UBS Group lifted their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Citigroup began coverage on shares of VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, VNET Group presently has a consensus rating of “Buy” and a consensus price target of $4.78.

Hedge Funds Weigh In On VNET Group

Institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC purchased a new stake in VNET Group during the second quarter valued at approximately $36,000. Wolverine Trading LLC purchased a new stake in shares of VNET Group in the 3rd quarter worth $46,000. AXA S.A. bought a new position in VNET Group in the 2nd quarter worth $65,000. Walleye Capital LLC bought a new stake in VNET Group during the third quarter valued at about $115,000. Finally, Blue Trust Inc. increased its position in 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 buying an additional 37,322 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

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.