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

VNET Group, Inc. (NASDAQ:VNET) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 7,000,000 shares, an increase of 15.5% from the November 15th total of 6,060,000 shares. Based on an average daily trading volume, of 2,020,000 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On VNET Group

Several institutional investors have recently made changes to their positions in the company. Wolverine Trading LLC purchased a new position in shares of VNET Group during the third quarter valued at $46,000. Ballentine Partners LLC purchased a new position in shares of VNET Group during the second quarter valued at $36,000. Walleye Capital LLC purchased a new position in shares of VNET Group during the third quarter valued at $115,000. AXA S.A. purchased a new position in shares of VNET Group during the second quarter valued at $65,000. Finally, Blue Trust Inc. increased its stake in shares of VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after buying an additional 37,322 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 2.0 %

Shares of NASDAQ:VNET traded down $0.08 on Monday, hitting $3.91. 665,066 shares of the company’s stock were exchanged, compared to its average volume of 1,600,803. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.80 and a beta of -0.19. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a 12 month low of $1.39 and a 12 month high of $4.50. The business’s 50 day simple moving average is $3.73 and its two-hundred day simple moving average is $2.89.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VNET. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group upgraded 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 research report on Friday, November 29th. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group lifted their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average 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.