Chindata Group (NASDAQ:CD) Trading Down 7.8% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD) shares traded down 7.8% on Thursday . The company traded as low as $4.25 and last traded at $4.36. 218,217 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 219,240 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Chindata Group currently has an average rating of “Sell”.

Chindata Group Trading Down 7.8%

The business has a 50-day moving average of $6.25 and a two-hundred day moving average of $5.61. The firm has a market cap of $346.36 million, a P/E ratio of -218.00 and a beta of 4.98.

Chindata Group (NASDAQ:CD) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) EPS for the quarter. The business had revenue of $0.51 million during the quarter.

Insider Activity

In related news, insider Wilfred Zhongkei Daye sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total value of $38,640.00. Following the completion of the transaction, the insider owned 75,765 shares in the company, valued at $731,889.90. This trade represents a 5.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 8,000 shares of company stock valued at $76,020 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Chindata Group

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Chindata Group in the 4th quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Chindata Group in the fourth quarter worth $45,000. New York State Common Retirement Fund acquired a new stake in Chindata Group in the fourth quarter valued at $51,000. The Manufacturers Life Insurance Company acquired a new stake in Chindata Group in the fourth quarter valued at $57,000. Finally, MetLife Investment Management LLC bought a new position in Chindata Group during the 4th quarter worth $76,000. 30.82% of the stock is owned by institutional investors.

Chindata Group Company Profile

Chindata Group Holdings Limited provides carrier-neutral hyperscale data center solutions in Mainland China, India, and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment, and other on-demand services. The company also provides internet data center colocation and rental services; and technical and consulting services. Its integrated data center solutions include infrastructure, power supply, connectivity and operation and maintenance, and tailor-made to their scale and requirements throughout the planning, design, construction, and operation process.