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

VNET Group, Inc. (NASDAQ:VNET) was the target of a significant growth in short interest in 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 daily trading volume, of 798,300 shares, the days-to-cover ratio is currently 10.8 days.

VNET Group Stock Up 1.1 %

VNET Group stock traded up $0.02 during mid-day trading on Friday, reaching $1.79. 245,254 shares of the company’s stock were exchanged, compared to its average volume of 1,412,582. The company has a fifty day moving average of $2.09 and a 200-day moving average of $1.86. The company has a market cap of $460.75 million, a P/E ratio of -0.68 and a beta of -0.35. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. VNET Group has a twelve month low of $1.39 and a twelve month high of $3.88.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new stake in shares of VNET Group in the 1st quarter valued at approximately $26,000. Ballentine Partners LLC acquired a new stake in VNET Group in the second quarter valued at $36,000. AXA S.A. purchased a new stake in VNET Group during the 2nd quarter worth about $65,000. Headlands Technologies LLC boosted its position in shares of VNET Group by 1,199.7% during the 1st 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 increased its holdings in shares of 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 owned by institutional investors and hedge funds.

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.