Chindata Group Holdings Limited (NASDAQ:CD) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,400,000 shares, an increase of 37.1% from the March 15th total of 3,940,000 shares. Based on an average trading volume of 1,030,000 shares, the short-interest ratio is presently 5.2 days.
Several equities research analysts have recently weighed in on CD shares. Jefferies Financial Group started coverage on Chindata Group in a research report on Monday, March 15th. They issued a “buy” rating and a $26.04 target price for the company. DBS Vickers started coverage on Chindata Group in a research report on Friday, March 26th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Chindata Group presently has an average rating of “Buy” and a consensus price target of $20.91.
Several large investors have recently added to or reduced their stakes in the stock. Cutler Group LP acquired a new stake in Chindata Group during the fourth quarter valued at approximately $47,000. Voloridge Investment Management LLC bought a new position in Chindata Group in the 3rd quarter worth approximately $162,000. Infini Master Fund bought a new position in Chindata Group during the 4th quarter valued at $367,000. Schonfeld Strategic Advisors LLC bought a new position in Chindata Group during the 3rd quarter valued at $276,000. Finally, ExodusPoint Capital Management LP bought a new position in Chindata Group during the 3rd quarter valued at $407,000. Institutional investors and hedge funds own 18.93% of the company’s stock.
NASDAQ:CD opened at $14.62 on Monday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.80. Chindata Group has a one year low of $13.12 and a one year high of $27.47. The business’s 50-day simple moving average is $17.82 and its 200 day simple moving average is $18.64.
Chindata Group (NASDAQ:CD) last released its quarterly earnings results on Wednesday, March 24th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.44. The business had revenue of $84.75 million during the quarter, compared to analyst estimates of $76.08 million. Sell-side analysts forecast that Chindata Group will post -0.15 earnings per share for the current year.
Chindata Group Company Profile
Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, and Southeast Asia markets. It offers colocation and managed, energy procurement and transmission, infrastructure, and IT and network services. The company was formerly known as BCPE Bridge Stack Limited and changed its name to Chindata Group Holdings Limited in April 2020.
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