VNET Group, Inc. (NASDAQ:VNET) Short Interest Up 53.5% in January

VNET Group, Inc. (NASDAQ:VNET) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 14,000,000 shares, a growth of 53.5% from the January 15th total of 9,120,000 shares. Based on an average daily volume of 3,880,000 shares, the days-to-cover ratio is currently 3.6 days.

VNET Group Price Performance

Shares of VNET stock opened at $11.31 on Thursday. VNET Group has a one year low of $1.42 and a one year high of $11.50. 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’s 50 day moving average price is $5.74 and its 200-day moving average price is $4.03.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wolverine Trading LLC purchased a new stake in shares of VNET Group in the 3rd quarter valued at $46,000. Catalina Capital Group LLC purchased a new stake in VNET Group during the fourth quarter worth about $54,000. Walleye Capital LLC purchased a new stake in VNET Group during the third quarter worth about $115,000. Wedbush Securities Inc. acquired a new stake in shares of VNET Group during the fourth quarter worth about $127,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of VNET Group in the fourth quarter valued at approximately $152,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VNET has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group raised their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $4.78.

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.