Chindata Group Holdings Limited (NASDAQ:CD) dropped 7.6% on Thursday . The stock traded as low as $5.71 and last traded at $5.71. Approximately 30,005 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,417,625 shares. The stock had previously closed at $6.18.
CD has been the subject of several research analyst reports. Credit Suisse Group downgraded Chindata Group from an “outperform” rating to a “neutral” rating and set a $8.30 price objective for the company. in a research note on Monday, December 13th. Morgan Stanley cut Chindata Group from an “equal weight” rating to an “underweight” rating in a report on Friday, January 7th. Finally, Zacks Investment Research upgraded Chindata Group from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.71.
The firm has a fifty day moving average price of $7.55 and a 200-day moving average price of $10.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 88.51 and a beta of 2.83.
Several institutional investors and hedge funds have recently modified their holdings of CD. Swiss National Bank purchased a new position in shares of Chindata Group in the 2nd quarter worth $2,434,000. Sei Investments Co. raised its position in shares of Chindata Group by 32.3% in the 2nd quarter. Sei Investments Co. now owns 136,256 shares of the company’s stock worth $2,056,000 after buying an additional 33,228 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Chindata Group in the 2nd quarter worth $542,000. Citigroup Inc. raised its position in shares of Chindata Group by 1,261.5% in the 2nd quarter. Citigroup Inc. now owns 97,472 shares of the company’s stock worth $1,471,000 after buying an additional 90,313 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of Chindata Group in the 2nd quarter worth $1,973,000. 16.04% of the stock is currently owned by institutional investors and hedge funds.
Chindata Group Company Profile (NASDAQ:CD)
Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in 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.
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