Chindata Group (NASDAQ:CD) Stock Price Down 1.6% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD)’s share price was down 1.6% during trading on Thursday . The company traded as low as $3.13 and last traded at $3.15. 206,750 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 414,516 shares. The stock had previously closed at $3.20.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. 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”.

Chindata Group Stock Down 1.6%

The company has a market capitalization of $250.24 million, a PE ratio of -157.50 and a beta of 5.10. The stock’s fifty day moving average price is $5.81 and its two-hundred day moving average price is $5.35.

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

Insider Buying and Selling at Chindata Group

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.66, for a total transaction of $38,640.00. Following the transaction, the insider directly owned 75,765 shares of the company’s stock, valued at approximately $731,889.90. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 8,000 shares of company stock valued at $76,020. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Chindata Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CD. Public Employees Retirement System of Ohio bought a new stake in Chindata Group in the fourth quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey bought a new position in Chindata Group in the 4th quarter worth $45,000. New York State Common Retirement Fund bought a new position in Chindata Group in the 4th quarter worth $51,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Chindata Group in the 4th quarter worth about $57,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Chindata Group in the 4th quarter worth about $76,000. Hedge funds and other institutional investors own 30.82% of the company’s stock.

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.