VNET Group, Inc. (NASDAQ:VNET) Sees Significant Increase in Short Interest

VNET Group, Inc. (NASDAQ:VNET) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 8,610,000 shares, a growth of 21.8% from the July 15th total of 7,070,000 shares. Based on an average trading volume of 798,300 shares, the short-interest ratio is currently 10.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

VNET Group Stock Performance

VNET stock traded up $0.04 on Thursday, reaching $1.77. The company’s stock had a trading volume of 615,871 shares, compared to its average volume of 1,419,830. VNET Group has a 52 week low of $1.39 and a 52 week high of $3.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $455.59 million, a P/E ratio of -0.67 and a beta of -0.35. The firm has a fifty day moving average of $2.10 and a two-hundred day moving average of $1.86.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The business had revenue of $262.89 million for the quarter, compared to analyst estimates of $258.78 million. VNET Group had a negative return on equity of 15.69% and a negative net margin of 39.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNET. Catalina Capital Group LLC bought a new position in VNET Group during the 1st quarter valued at $26,000. Ballentine Partners LLC acquired a new stake in shares of VNET Group in the second quarter valued at $36,000. AXA S.A. acquired a new position in VNET Group during the second quarter worth about $65,000. Headlands Technologies LLC raised its position in VNET Group by 1,199.7% in the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 39,050 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in VNET Group by 101.6% in the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after acquiring an additional 42,537 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

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.