Chindata Group (NASDAQ:CD) Stock Price Down 5.9% – Time to Sell?

Chindata Group Holdings Limited (NASDAQ:CD)’s share price traded down 5.9% during trading on Friday. The company traded as low as $6.33 and last traded at $6.34. 112,716 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 200,830 shares. The stock had previously closed at $6.74.

Analyst Ratings Changes

Several brokerages have issued reports on CD. Weiss Ratings reiterated a “sell (d)” rating on shares of Chindata Group in a report on Monday, September 21st. Wall Street Zen downgraded Chindata Group from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Chindata Group has a consensus rating of “Sell”.

Chindata Group Price Performance

The business’s fifty day moving average price is $3.63 and its 200-day moving average price is $4.66. The stock has a market capitalization of $712.80 million, a price-to-earnings ratio of -216.00 and a beta of 5.05.

Chindata Group (NASDAQ:CD) last posted its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $0.46 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Chindata Group stock. Bank of New York Mellon Corp lifted its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,907 shares of the company’s stock after buying an additional 7,060 shares during the period. Bank of New York Mellon Corp owned about 0.11% of Chindata Group worth $350,000 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

Chindata Group Holdings Limited was a data center operator that provided infrastructure and technology services for cloud service providers, internet companies, financial institutions and other enterprise customers. Its offerings included the design, development and operation of hyperscale data centers, as well as related network connectivity, computing infrastructure and information technology services.

Founded in 2015 and headquartered in Beijing, Chindata focused primarily on markets across Asia-Pacific, including China and selected countries in Southeast and South Asia.