Chindata Group (NASDAQ:CD) Stock Price Down 6.5% – Here’s Why
by Jessica Moore · The Cerbat GemShares of Chindata Group Holdings Limited (NASDAQ:CD – Get Free Report) fell 6.5% on Thursday. The company traded as low as $9.08 and last traded at $9.49. 33,274 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 200,899 shares. The stock had previously closed at $10.15.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on CD shares. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Chindata Group has a consensus rating of “Sell”.
Check Out Our Latest Analysis on CD
Chindata Group Trading Up 16.7%
The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -394.67 and a beta of 5.06. The firm has a 50-day moving average of $4.05 and a two-hundred day moving average of $4.76.
Chindata Group (NASDAQ:CD – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $0.46 million during the quarter.
Institutional Investors Weigh In On Chindata Group
A hedge fund recently raised its position in Chindata Group stock. Bank of America Corp DE raised its stake in Chindata Group Holdings Limited (NASDAQ:CD – Free Report) by 11.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the period. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 as of its most recent SEC filing. Institutional investors own 30.82% of the company’s stock.
About Chindata Group
Chindata Group Holdings Limited was a data center solution provider focused on serving cloud service providers, internet companies and other enterprise customers in emerging markets across the Asia-Pacific region. The company developed and operated hyperscale data center campuses and provided supporting infrastructure for customers with large-scale computing and storage requirements.
Its services included data center planning, design, construction and operation, as well as facilities management, network connectivity and related information technology infrastructure services.