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

VNET Group, Inc. (NASDAQ:VNET) saw some unusual options trading activity on Wednesday. Stock traders purchased 9,620 call options on the company. This represents an increase of 459% compared to the typical daily volume of 1,721 call options.

Wall Street Analyst Weigh In

VNET has been the subject of several analyst reports. UBS Group lifted their price target on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. One investment 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 has an average rating of “Buy” and a consensus target price of $4.78.

VNET Group Stock Performance

VNET Group stock opened at $11.31 on Thursday. The company’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $4.03. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $11.50.

Institutional Investors Weigh In On VNET Group

Hedge funds have recently bought and sold shares of the company. Wolverine Trading LLC bought a new stake in shares of VNET Group in the 3rd quarter valued at $46,000. Catalina Capital Group LLC bought a new stake in shares of VNET Group in the fourth quarter worth about $54,000. Walleye Capital LLC acquired a new stake in shares of VNET Group during the third quarter worth about $115,000. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the 4th quarter valued at about $152,000. Finally, Blue Trust Inc. grew its position in shares of VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.