Chindata Group (NASDAQ:CD) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Chindata Group Holdings Limited (NASDAQ:CD – Get Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.28, but opened at $4.58. Chindata Group shares last traded at $4.71, with a volume of 24,859 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on CD shares. Wall Street Zen cut shares of Chindata Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings restated a “sell (d)” rating on shares of Chindata Group in a research report on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Check Out Our Latest Research Report on CD

Chindata Group Trading Up 9.6%

The business has a fifty day moving average price of $3.28 and a 200-day moving average price of $4.63. The stock has a market capitalization of $515.92 million, a PE ratio of -156.33 and a beta of 5.23.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Chindata Group stock. Bank of America Corp DE increased its holdings in Chindata Group Holdings Limited (NASDAQ:CD – Free Report) by 11.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 35,834 shares of the company’s stock after buying an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 30.82% of the company’s stock.

About Chindata Group

(Get Free Report)

Chindata Group Holdings Limited was a data center operator that provided infrastructure and technology services for cloud service providers, internet companies, financial institutions and other enterprise customers. Its offerings included the design, development and operation of hyperscale data centers, as well as related network connectivity, computing infrastructure and information technology services.

Founded in 2015 and headquartered in Beijing, Chindata focused primarily on markets across Asia-Pacific, including China and selected countries in Southeast and South Asia.

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