Chindata Group (NASDAQ:CD) Shares Down 8.6% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD) traded down 8.6% during mid-day trading on Wednesday. The company traded as low as $7.65 and last traded at $7.74. 31,227 shares were traded during trading, a decline of 85% from the average session volume of 208,632 shares. The stock had previously closed at $8.47.

Analyst Ratings Changes

CD has been the subject of a number of analyst reports. Wall Street Zen upgraded Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings downgraded Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Chindata Group presently has a consensus rating of “Sell”.

Chindata Group Stock Down 17.8%

The company has a market cap of $765.60 million, a P/E ratio of -232.00 and a beta of 5.06. The firm’s 50-day moving average price is $4.91 and its 200-day moving average price is $5.00.

Chindata Group (NASDAQ:CD) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.01) EPS 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 America Corp DE raised its holdings in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,834 shares of the company’s stock after buying an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.82% of the company’s stock.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center solution provider focused on serving cloud service providers, internet companies and other enterprise customers in emerging markets across the Asia-Pacific region. The company developed and operated hyperscale data center campuses and provided supporting infrastructure for customers with large-scale computing and storage requirements.

Its services included data center planning, design, construction and operation, as well as facilities management, network connectivity and related information technology infrastructure services.