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

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

VNET Group Stock Performance

On Thursday, VNET Group shares opened at $11.31. Over the past year, the stock has seen a low of $1.42 and a high of $11.50. The company maintains a debt-to-equity ratio of 1.46, along with a quick ratio and current ratio both at 0.83. Currently, the 50-day moving average price for VNET is $5.74, while the 200-day moving average price is $4.03.

Investment Activity

Recent investment activity indicates that large investors are adjusting their stakes in VNET Group. In the third quarter, Wolverine Trading LLC acquired a new stake valued at $46,000. Catalina Capital Group LLC also added a new stake valued at approximately $54,000 in the fourth quarter. Additionally, Walleye Capital LLC purchased a new stake during the third quarter worth about $115,000, while Wedbush Securities Inc. acquired a new stake valued at $127,000 in the fourth quarter. Finally, Asset Management One Co. Ltd. invested about $152,000 in VNET Group during the fourth quarter. Currently, institutional investors and hedge funds hold approximately 72.83% of the company’s stock.

Analyst Recommendations

VNET has received various updates from analysts recently. Notably, The Goldman Sachs Group upgraded its rating from "neutral" to "buy" and increased its price target from $3.10 to $5.00 on November 29th. Similarly, UBS Group raised its target price from $6.40 to $7.00, assigning a "buy" rating in the same timeframe. The overall sentiment shows one analyst rating the stock as a hold, five as buys, and one as a strong buy. According to MarketBeat, VNET currently holds an average rating of "Buy" with a consensus target price of $4.78.

About VNET Group, Inc.

VNET Group, Inc. serves as an investment holding company that offers hosting and related services in China. The company specializes in managed hosting services, which encompass colocation services, interconnectivity options, value-added services like hybrid IT and data management, cloud services that facilitate online application usage, and VPN services that enhance customers' private networks.

VNET, stocks, investment