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

VNET Group, Inc. (NASDAQ:VNET) was the target of some unusual options trading on Wednesday. Investors bought 9,620 call options on the stock. This represents an increase of 459% compared to the average volume of 1,721 call options.

VNET Group Price Performance

Shares of VNET Group stock traded up $1.19 during midday trading on Wednesday, hitting $11.16. 7,425,602 shares of the company were exchanged, compared to its average volume of 5,765,757. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $2.87 billion, a P/E ratio of -5.02, a PEG ratio of 0.78 and a beta of -0.18. VNET Group has a 52 week low of $1.42 and a 52 week high of $11.43. The firm has a 50 day simple moving average of $5.59 and a 200-day simple moving average of $3.98.

Institutional Investors Weigh In On VNET Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after buying an additional 852,519 shares during the period. American Century Companies Inc. boosted its position in shares of VNET Group by 20.4% in the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock worth $2,251,000 after purchasing an additional 80,516 shares during the last quarter. Anson Funds Management LP boosted its position in shares of VNET Group by 84.9% in the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock worth $1,836,000 after purchasing an additional 206,580 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of VNET Group by 534.6% in the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after purchasing an additional 343,140 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of VNET Group by 24.8% in the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock worth $1,506,000 after purchasing an additional 73,311 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VNET has been the topic of several recent analyst reports. UBS Group lifted their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.