Chindata Group (NASDAQ:CD) Shares Up 13.8% – Should You Buy?

by · The Markets Daily

Shares of Chindata Group Holdings Limited (NASDAQ:CD – Get Free Report) rose 13.8% during mid-day trading on Wednesday. The company traded as high as $6.76 and last traded at $6.51. Approximately 48,982 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 217,882 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CD. Weiss Ratings downgraded Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Check Out Our Latest Report on Chindata Group

Chindata Group Trading Up 16.4%

The firm’s fifty day simple moving average is $5.77 and its two-hundred day simple moving average is $5.18. The company has a market capitalization of $732.60 million, a price-to-earnings ratio of -222.00 and a beta of 5.15.

Chindata Group (NASDAQ:CD – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $0.46 million for the quarter.

Hedge Funds Weigh In On Chindata Group

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

About Chindata Group

(Get Free Report)

Chindata Group Holdings Limited was a data center operator and infrastructure services provider focused on hyperscale computing facilities in emerging Asian markets. The company developed, owned and operated data centers designed to support cloud service providers, internet companies, telecommunications firms and other enterprise customers.

Its services included data center design, construction and operation; colocation and managed infrastructure; cloud and network services; and related information technology infrastructure solutions.

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