Traders Buy Large Volume of VNET Group Put Options (NASDAQ:VNET)

Posted by Defense World Staff on Oct 25th, 2023

VNET Group, Inc. (NASDAQ:VNET – Get Free Report) saw unusually large options trading on Tuesday. Stock investors purchased 12,621 put options on the stock. This is an increase of approximately 1,706% compared to the typical daily volume of 699 put options.

VNET Group Stock Up 9.1 %

Shares of NASDAQ:VNET opened at $2.99 on Wednesday. The company has a market capitalization of $443.87 million, a PE ratio of -4.53 and a beta of -0.16. VNET Group has a 52 week low of $2.53 and a 52 week high of $6.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50 day moving average price of $3.09 and a two-hundred day moving average price of $2.98.

VNET Group (NASDAQ:VNET – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The information technology services provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.20). The business had revenue of $251.23 million for the quarter, compared to analyst estimates of $264.65 million. VNET Group had a negative return on equity of 8.92% and a negative net margin of 8.56%. Analysts forecast that VNET Group will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in VNET Group during the 2nd quarter valued at $29,000. Tower Research Capital LLC TRC increased its position in shares of VNET Group by 749.3% in the first quarter. Tower Research Capital LLC TRC now owns 8,561 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 7,553 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of VNET Group in the second quarter worth approximately $30,000. Alpine Global Management LLC bought a new position in shares of VNET Group in the fourth quarter worth approximately $82,000. Finally, Cetera Investment Advisers bought a new stake in VNET Group in the fourth quarter valued at $82,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on VNET. StockNews.com began coverage on VNET Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. HSBC raised their target price on shares of VNET Group from $2.90 to $3.00 in a report on Friday, August 25th. Finally, Bank of America started coverage on shares of VNET Group in a report on Friday, July 7th. They set a “neutral” rating for the company.

View Our Latest Analysis on VNET Group

VNET Group Company Profile

(Get Free Report)

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.