VNET Group, Inc. (NASDAQ:VNET) Short Interest Update

VNET Group, Inc. (NASDAQ:VNET) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 32,500,000 shares, an increase of 53.1% from the February 28th total of 21,230,000 shares. Based on an average daily trading volume, of 9,200,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 14.4% of the shares of the stock are short sold.

VNET Group Stock Performance

Shares of VNET stock opened at $8.20 on Tuesday. VNET Group has a 12-month low of $1.42 and a 12-month high of $16.13. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a 50 day simple moving average of $10.05 and a 200-day simple moving average of $6.12. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -3.69, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07.

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

Institutional Investors Weigh In On VNET Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its position in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after buying an additional 4,939 shares during the period. Headlands Technologies LLC increased its position in VNET Group by 5.7% during the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in VNET Group during the fourth quarter worth approximately $41,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the 4th quarter valued at $54,000. Finally, Wolverine Trading LLC acquired a new stake in shares of VNET Group during the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on VNET shares. Citigroup lifted their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Finally, StockNews.com cut VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $9.30.

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.