Shares of Chindata Group Holdings Limited (NASDAQ:CD – Get Free Report) were down 14% during mid-day trading on Monday. The company traded as low as $5.64 and last traded at $5.78. 49,925 shares were traded during trading, a decline of 77% from the average session volume of 215,974 shares. The stock had previously closed at $6.72.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CD. Weiss Ratings downgraded shares of Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.
Get Our Latest Research Report on CD
Chindata Group Trading Down 11.3%
The firm has a 50 day simple moving average of $5.68 and a two-hundred day simple moving average of $5.18. The company has a market capitalization of $655.60 million, a PE ratio of -198.67 and a beta of 5.15.
Chindata Group (NASDAQ:CD – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $0.46 million during the quarter.
Hedge Funds Weigh In On Chindata Group
An institutional investor recently raised its position in Chindata Group stock. Bank of New York Mellon Corp grew its position in Chindata Group Holdings Limited (NASDAQ:CD – Free Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,907 shares of the company’s stock after acquiring an additional 7,060 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.11% of Chindata Group worth $350,000 as of its most recent filing with the Securities and Exchange Commission. 30.82% of the stock is currently owned by hedge funds and other institutional investors.
Chindata Group Company Profile
Chindata Group Holdings Limited was a data center operator and infrastructure services provider focused on hyperscale computing facilities in emerging Asian markets. The company developed, owned and operated data centers designed to support cloud service providers, internet companies, telecommunications firms and other enterprise customers.
Its services included data center design, construction and operation; colocation and managed infrastructure; cloud and network services; and related information technology infrastructure solutions.
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