Chindata Group (NASDAQ:CD) Stock Falls 14% – Should You Sell?

by · The Markets Daily

Shares of Chindata Group Holdings Limited (NASDAQ:CD – Get Free Report) were down 14% during mid-day trading on Monday. The stock traded as low as $5.64 and last traded at $5.78. Approximately 49,925 shares were traded during trading, a decline of 77% from the average daily volume of 215,974 shares. The stock had previously closed at $6.72.

Analyst Ratings Changes

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

View Our Latest Stock Analysis on CD

Chindata Group Trading Down 0.9%

The company’s 50 day simple moving average is $5.77 and its 200-day simple moving average is $5.18.

Chindata Group (NASDAQ:CD – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $0.46 million during 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 increased its holdings in shares of 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 SEC. The institutional investor owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 as of its most recent filing with the SEC. Institutional investors own 30.82% of the company’s stock.

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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