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

VNET Group, Inc. (NASDAQ:VNET) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 18,100,000 shares, an increase of 29.3% from the January 31st total of 14,000,000 shares. Based on an average trading volume of 6,270,000 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

VNET has been the subject of several recent research reports. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, UBS Group increased their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, VNET Group has an average rating of “Buy” and an average target price of $4.78.

VNET Group Price Performance

NASDAQ:VNET opened at $12.47 on Thursday. VNET Group has a 52-week low of $1.42 and a 52-week high of $16.13. The stock has a fifty day moving average of $8.11 and a 200 day moving average of $5.08. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -5.62, a P/E/G ratio of 1.01 and a beta of -0.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning grew its stake in VNET Group by 124.1% in the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider’s stock worth $478,000 after buying an additional 64,866 shares in the last quarter. GSA Capital Partners LLP grew its position in VNET Group by 24.8% in the third quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock worth $1,506,000 after acquiring an additional 73,311 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in VNET Group in the third quarter valued at $199,000. Walleye Capital LLC purchased a new stake in VNET Group during the third quarter valued at about $115,000. Finally, Wolverine Trading LLC bought a new stake in VNET Group during the third quarter worth about $46,000. Hedge funds and other 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.