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21Vianet Group Inc (NASDAQ:VNET) Sees Significant Growth in Short Interest

Wednesday, September 16, 2020 | MarketBeat

21Vianet Group Inc (NASDAQ:VNET) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,990,000 shares, an increase of 22.8% from the August 15th total of 1,620,000 shares. Based on an average daily volume of 1,920,000 shares, the short-interest ratio is presently 1.0 days.

Several research firms have weighed in on VNET. BidaskClub lowered shares of 21Vianet Group from a "sell" rating to a "strong sell" rating in a report on Friday, September 11th. TheStreet raised shares of 21Vianet Group from a "d+" rating to a "c" rating in a research report on Thursday, July 23rd. UBS Group initiated coverage on shares of 21Vianet Group in a research report on Tuesday, July 14th. They set a "buy" rating for the company. DBS Vickers initiated coverage on shares of 21Vianet Group in a research report on Tuesday, July 14th. They issued a "buy" rating for the company. Finally, Jefferies Financial Group started coverage on shares of 21Vianet Group in a research report on Tuesday, June 16th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company has an average rating of "Buy" and a consensus target price of $18.93.

A number of institutional investors and hedge funds have recently bought and sold shares of VNET. UBS Group AG lifted its holdings in 21Vianet Group by 550.4% during the first quarter. UBS Group AG now owns 3,447 shares of the information technology services provider's stock valued at $47,000 after purchasing an additional 2,917 shares during the last quarter. NorthCoast Asset Management LLC purchased a new stake in shares of 21Vianet Group in the first quarter worth about $139,000. Advisor Group Holdings Inc. lifted its holdings in shares of 21Vianet Group by 30,285.0% in the second quarter. Advisor Group Holdings Inc. now owns 6,077 shares of the information technology services provider's stock worth $145,000 after buying an additional 6,057 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of 21Vianet Group in the first quarter worth about $189,000. Finally, Bank of Montreal Can purchased a new stake in shares of 21Vianet Group in the second quarter worth about $194,000. Institutional investors own 44.09% of the company's stock.

NASDAQ VNET opened at $21.82 on Wednesday. 21Vianet Group has a 1 year low of $6.31 and a 1 year high of $30.44. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -7.37 and a beta of 0.25. The company has a fifty day moving average price of $22.90 and a 200-day moving average price of $18.59.

21Vianet Group Company Profile

21Vianet Group, Inc provides carrier and cloud-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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