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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of unusually large options trading on Wednesday. Investors acquired 9,620 call options on the company. This is an increase of approximately 459% compared to the typical daily volume of 1,721 call options.

VNET Group Trading Up 12.0 %

VNET Group stock traded up $1.19 during trading hours on Wednesday, reaching $11.16. 7,425,602 shares of the company’s stock were exchanged, compared to its average volume of 5,765,757. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm’s 50 day simple moving average is $5.59 and its 200 day simple moving average is $3.98. VNET Group has a twelve month low of $1.42 and a twelve month high of $11.43. The firm has a market capitalization of $2.87 billion, a PE ratio of -5.02, a PEG ratio of 0.78 and a beta of -0.18.

Wall Street Analyst Weigh In

VNET has been the subject of several recent research reports. The Goldman Sachs Group upgraded 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. UBS Group upped their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, VNET Group presently has an average rating of “Buy” and a consensus target price of $4.78.

Hedge Funds Weigh In On VNET Group

Several large investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC bought a new position in shares of VNET Group during the 3rd quarter worth approximately $46,000. Catalina Capital Group LLC bought a new position in shares of VNET Group during the 4th quarter worth approximately $54,000. Walleye Capital LLC bought a new position in shares of VNET Group during the 3rd quarter worth approximately $115,000. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the 4th quarter worth approximately $152,000. Finally, Blue Trust Inc. lifted its position in shares of VNET Group by 785.4% during the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after buying an additional 37,322 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

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.