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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 14,000,000 shares, an increase 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on VNET shares. UBS Group boosted their price target on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, VNET Group has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group Stock Up 3.9 %

VNET stock opened at $11.75 on Friday. The firm has a 50-day moving average of $5.89 and a two-hundred day moving average of $4.09. VNET Group has a one year low of $1.42 and a one year high of $11.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently bought and sold shares of VNET. JPMorgan Chase & Co. boosted its holdings in shares of VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after acquiring an additional 852,519 shares in the last quarter. HCEP Management Ltd acquired a new position in VNET Group in the 4th quarter worth $2,491,000. American Century Companies Inc. raised its holdings in shares of VNET Group by 20.4% in the fourth quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock valued at $2,251,000 after purchasing an additional 80,516 shares during the last quarter. Anson Funds Management LP raised its holdings in VNET Group by 84.9% during the third quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock worth $1,836,000 after acquiring an additional 206,580 shares in the last quarter. 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. Institutional investors own 72.83% of the company’s stock.

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.