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

In January, VNET Group, Inc. (NASDAQ:VNET - Get Free Report) saw a notable rise in short interest. On January 31st, the total short interest was 14,000,000 shares, marking an increase of 53.5% compared to the 9,120,000 shares reported on January 15th. With an average daily volume of 3,880,000 shares, the days-to-cover ratio currently stands at 3.6 days.

VNET Group Price Performance

On Thursday, VNET stock opened at $11.31. The shares have traded between a one-year low of $1.42 and a one-year high of $11.50. VNET Group has a debt-to-equity ratio of 1.46, along with a quick ratio of 0.83. The current ratio is also 0.83, while the firm's 50-day and 200-day moving average prices are $5.74 and $4.03, respectively.

Institutional Inflows and Outflows

Recently, large investors have either increased or decreased their stakes in VNET Group. For instance, Wolverine Trading LLC bought a new position valued at $46,000 in the third quarter. Catalina Capital Group LLC also acquired a new stake in the fourth quarter worth approximately $54,000. Other notable investors include Walleye Capital LLC, who invested about $115,000, and Wedbush Securities Inc., who purchased shares valued at around $127,000. Asset Management One Co. Ltd. also entered with a new position valued at $152,000. Currently, institutional investors and hedge funds own 72.83% of the stock.

Analyst Upgrades and Downgrades

VNET has recently come under scrutiny from various analysts. The Goldman Sachs Group upgraded VNET Group from a "neutral" to a "buy" rating and increased their price target from $3.10 to $5.00 in a report dated November 29th. UBS Group raised their target price from $6.40 to $7.00 and also rated the stock as a "buy" in the same week. Overall, one analyst has issued a hold rating, five have declared a buy rating, and one has given a strong buy rating. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $4.78.

VNET Group Company Overview

VNET Group, Inc. is an investment holding company that provides hosting and related services in China. Their managed hosting services include colocation services, interconnectivity services, and value-added offerings such as hybrid IT and data center management. Additionally, VNET provides cloud services that allow users to run applications over the internet, along with VPN services to enhance network connectivity.

Additional Insights

Investors may want to consider various options before making decisions regarding VNET Group. While the stock has a positive rating, it is advisable to explore other recommendations from analysts to identify potentially better investments.

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