Stock Traders Purchase High Volume of Call Options on VNET Group (NASDAQ:VNET)

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

VNET Group Stock Up 15.4 %

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VNET. Triata Capital Ltd purchased a new position in shares of VNET Group in the 4th quarter valued at about $47,377,000. Millennium Management LLC increased its stake in shares of VNET Group by 3.4% during the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider’s stock worth $26,441,000 after buying an additional 181,749 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of VNET Group by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,145,529 shares of the information technology services provider’s stock worth $10,170,000 after buying an additional 93,891 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in VNET Group in the fourth quarter valued at approximately $7,183,000. Finally, Bank of America Corp DE lifted its stake in VNET Group by 610.2% in the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider’s stock worth $5,682,000 after acquiring an additional 1,029,963 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.