VNET Group, Inc. (NASDAQ:VNET) Short Interest Down 14.0% in May

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 21,090,000 shares, a decrease of 14.0% from the April 30th total of 24,520,000 shares. Approximately 9.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,330,000 shares, the short-interest ratio is currently 2.3 days.

VNET Group Stock Performance

VNET traded down $0.12 on Friday, reaching $5.91. 3,602,880 shares of the stock were exchanged, compared to its average volume of 4,675,203. The company's 50-day moving average price is $5.95 and its 200 day moving average price is $6.94. VNET Group has a fifty-two week low of $1.71 and a fifty-two week high of $16.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.59 billion, a PE ratio of -2.66, a PEG ratio of 1.01 and a beta of 0.09.

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 for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $309.52 million for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the previous year, the business posted ($0.28) EPS. As a group, sell-side analysts forecast that VNET Group will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Several hedge funds and other institutional investors have recently made changes to their positions in VNET. Catalina Capital Group LLC acquired a new stake in shares of VNET Group in the fourth quarter valued at approximately $54,000. Asset Management One Co. Ltd. acquired a new stake in VNET Group during the fourth quarter worth $152,000. Los Angeles Capital Management LLC acquired a new stake in VNET Group during the fourth quarter worth $294,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in VNET Group by 472.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 278,801 shares of the information technology services provider's stock worth $1,322,000 after acquiring an additional 230,068 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in VNET Group by 20.4% during the fourth quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider's stock worth $2,251,000 after acquiring an additional 80,516 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company's stock.

Analyst Upgrades and Downgrades

VNET has been the subject of a number of research reports. Nomura Securities raised VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Citigroup increased their price target on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Wall Street Zen lowered VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.30.

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.