VNET Group Sees Unusually High Options Volume (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNETGet Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 4,001 call options on the company. This represents an increase of 54% compared to the typical daily volume of 2,597 call options.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th.

Check Out Our Latest Report on VNET

VNET Group Stock Performance

Shares of NASDAQ:VNET traded down $0.06 on Wednesday, reaching $1.52. The company’s stock had a trading volume of 427,320 shares, compared to its average volume of 2,769,256. VNET Group has a 52-week low of $1.39 and a 52-week high of $6.66. The company has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.87. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.71.

VNET Group (NASDAQ:VNETGet Free Report) last released its quarterly earnings results on Wednesday, November 15th. The information technology services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. VNET Group had a negative net margin of 3.48% and a negative return on equity of 3.68%. The firm had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $271.25 million. As a group, analysts forecast that VNET Group will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in VNET Group in the 2nd quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its position in VNET Group by 749.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,561 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 7,553 shares during the period. Tudor Investment Corp Et Al purchased a new stake in VNET Group in the 2nd quarter valued at about $30,000. Alpine Global Management LLC purchased a new stake in VNET Group in the 4th quarter valued at about $82,000. Finally, Cetera Investment Advisers bought a new stake in shares of VNET Group in the 4th quarter valued at about $82,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.

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