VNET Group, Inc. (NASDAQ:VNET) Short Interest Update

VNET Group, Inc. (NASDAQ:VNET) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 18,100,000 shares, an increase of 29.3% from the January 31st total of 14,000,000 shares. Based on an average trading volume of 6,270,000 shares, the short-interest ratio is currently 2.9 days.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $12.47 on Thursday. The company has a market capitalization of $3.21 billion, a PE ratio of -5.62, a PEG ratio of 1.01 and a beta of -0.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $8.11 and its 200-day moving average price is $5.08. VNET Group has a twelve month low of $1.42 and a twelve month high of $16.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after purchasing an additional 210,124 shares during the period. Asset Management One Co. Ltd. bought a new stake in VNET Group in the fourth quarter worth about $152,000. JPMorgan Chase & Co. boosted its stake in VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 136,783 shares during the last quarter. Virtu Financial LLC bought a new position in shares of VNET Group during the 3rd quarter valued at approximately $519,000. Finally, SG Americas Securities LLC increased its stake in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after purchasing an additional 343,140 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. UBS Group raised their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. Finally, Nomura Securities upgraded VNET Group to a “strong-buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.78.

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.