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

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

VNET Group Price Performance

On Thursday, VNET Group's stock opened at $11.31. The stock has recorded a one-year low of $1.42 and a one-year high of $11.50. The company’s debt-to-equity ratio is 1.46, with both the quick ratio and current ratio at 0.83. The 50-day moving average price for VNET Group is $5.74, while the 200-day moving average price is $4.03.

Institutional Inflows and Outflows

Recent activity among large investors indicates changes in their stakes in VNET Group. Wolverine Trading LLC acquired a new stake worth $46,000 in the third quarter, while Catalina Capital Group LLC purchased a stake valued at approximately $54,000 in the fourth quarter. Other significant purchases include Walleye Capital LLC with a $115,000 position in the third quarter, Wedbush Securities Inc. acquiring $127,000 worth of shares in the fourth quarter, and Asset Management One Co. Ltd. with a new position valued at roughly $152,000 in the same quarter. Currently, institutional investors and hedge funds own 72.83% of VNET Group's stock.

Analyst Upgrades and Downgrades

VNET Group has attracted attention from analysts recently. On November 29, the Goldman Sachs Group upgraded VNET Group’s shares from a "neutral" rating to a "buy" and increased their price target from $3.10 to $5.00. UBS Group also raised their target price for VNET Group from $6.40 to $7.00 and assigned a "buy" rating. Overall, one analyst has given the stock a hold rating, five analysts have rated it as a buy, and another has assigned a strong buy rating. Data from MarketBeat suggests that VNET Group currently holds an average rating of "Buy" with a consensus target price of $4.78.

VNET Group Company Profile

VNET Group, Inc. is an investment holding company focused on providing hosting and related services in China. Their offerings include managed hosting services such as colocation services, interconnectivity services, and value-added services like hybrid IT and data backup. They also provide cloud services and VPN services, allowing clients to enhance their IT infrastructure and maintain private network connectivity over the public internet.

VNET, stocks, shortinterest, January, institutional