Investors Buy Large Volume of Call Options on VNET Group (NASDAQ:VNET)

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 10,613 call options on the stock. This is an increase of 82% compared to the average volume of 5,831 call options.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, VNET Group presently has a consensus rating of "Buy" and an average price target of $9.30.

Institutional Investors Weigh In On VNET Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in VNET Group by 16.8% during the second quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider's stock worth $101,000 after purchasing an additional 2,100 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of VNET Group during the first quarter valued at about $36,000. Summit Securities Group LLC acquired a new stake in shares of VNET Group during the first quarter valued at about $40,000. Barclays PLC increased its position in shares of VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of VNET Group during the second quarter valued at about $34,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

Shares of NASDAQ:VNET traded up $0.25 during midday trading on Friday, hitting $9.01. The company's stock had a trading volume of 6,300,355 shares, compared to its average volume of 5,355,986. The business's 50 day simple moving average is $6.43 and its 200 day simple moving average is $7.47. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $2.42 billion, a P/E ratio of -901.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14. VNET Group has a 12-month low of $1.71 and a 12-month high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). VNET Group had a return on equity of 2.11% and a net margin of 1.66%. The firm had revenue of $309.52 million for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business posted ($0.28) earnings per share. On average, analysts forecast that VNET Group will post -0.06 EPS for the current year.

VNET Group announced that its board has initiated a stock buyback program on Friday, June 27th that permits the company to buyback $0.00 in shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.