VNET Group, Inc. (NASDAQ:VNET) Sees Significant Growth in Short Interest

VNET Group, Inc. (NASDAQ:VNET) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 21,230,000 shares, an increase of 17.3% from the February 13th total of 18,100,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average daily volume of 7,590,000 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

VNET has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Citigroup boosted their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.98.

Institutional Trading of VNET Group

A number of institutional investors have recently added to or reduced their stakes in VNET. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in VNET Group during the third quarter worth about $199,000. Walleye Capital LLC purchased a new stake in shares of VNET Group in the third quarter valued at about $115,000. Wolverine Trading LLC purchased a new stake in shares of VNET Group in the third quarter valued at about $46,000. XTX Topco Ltd purchased a new stake in shares of VNET Group in the third quarter valued at about $343,000. Finally, Anson Funds Management LP lifted its holdings in shares of VNET Group by 84.9% in the third quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock valued at $1,836,000 after purchasing an additional 206,580 shares in the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Stock Down 3.9 %

VNET stock opened at $10.94 on Wednesday. The company has a market cap of $2.82 billion, a P/E ratio of -4.93, a P/E/G ratio of 1.01 and a beta of 0.07. VNET Group has a 52 week low of $1.42 and a 52 week high of $16.13. The company’s 50-day moving average price is $9.46 and its 200 day moving average price is $5.74. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. On average, research analysts expect that VNET Group will post -0.06 earnings per share for the current fiscal year.

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.