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



VNET Group, Inc. (NASDAQ: VNETGet a rating) experienced a sharp decline in short-term interest in April. As of April 30, there was short interest totaling 5,120,000 shares, a 40.2% decline from the April 15 total of 8,560,000 shares. Based on an average daily volume of 3,550,000 shares, the short interest rate is currently 1.4 days.

Several stock analysts have recently released reports on the company. StockNews.com began coverage on VNET Group in a research note on Thursday, March 31. They issued a “sell” rating for the company. Zacks Investment Research upgraded VNET Group shares from a “sell” to a “hold” rating in a Tuesday, March 29 research note. Two equity research analysts have assigned the stock a sell rating, one has issued a hold rating and three have assigned the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.78.

Hedge funds have recently been buying and selling shares of the stock. Wells Fargo & Company MN increased its stake in VNET Group by 310.3% in the second quarter. Wells Fargo & Company MN now owns 109,086 shares of the information technology service provider valued at $2,503,000 after buying an additional 82,497 shares last quarter. The Swiss National Bank increased its position in shares of the VNET group by 0.8% during the third quarter. The Swiss National Bank now owns 195,720 shares of the information technology service provider worth $3,388,000 after buying an additional 1,600 shares in the last quarter. BlackRock Inc. increased its holdings of VNET Group shares by 9.1% in Q3. BlackRock Inc. now owns 3,983,807 shares of the information technology service provider valued at $68,958,000 after buying an additional 331,045 shares last quarter. Alliancebernstein LP increased its position in VNET Group shares by 64.0% in the third quarter. Alliancebernstein LP now owns 3,875,915 shares of the information technology service provider valued at $67,092,000 after buying an additional 1,512,553 shares in the last quarter. Finally, Creative Planning increased its stake in VNET Group by 87.5% during the 3rd quarter. Creative Planning now owns 75,000 shares of the information technology service provider worth $1,298,000 after acquiring 35,000 additional shares in the last quarter.

NASDAQ: VNET opened at $5.99 on Friday. VNET Group has a 1-year minimum of $3.51 and a 1-year maximum of $26.20. The stock has a market capitalization of $872.58 million, a P/E ratio of -18.15 and a beta of 0.14. The company has a debt ratio of 1.00, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day simple moving average of $6.18 and a 200-day simple moving average of $8.80.

VNET Group Company Profile (Get a rating)

VNET Group, Inc, an investment holding company, provides hosting and related services to Internet companies, government entities, blue-chip enterprises, and small and medium enterprises in the People’s Republic of China. It offers hosting and related services to house servers and network equipment in its data centers and connects them through a data transmission network.

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