Chindata Group (NASDAQ:CD) Shares Down 5.3% – Time to Sell?

Chindata Group Holdings Limited (NASDAQ:CD) shares were down 5.3% during mid-day trading on Friday . The stock traded as low as $5.12 and last traded at $5.15. Approximately 60,052 shares traded hands during trading, a decline of 29% from the average daily volume of 84,307 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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 MarketBeat, the company has an average rating of “Sell”.

Chindata Group Price Performance

The firm’s fifty day moving average is $4.80 and its two-hundred day moving average is $6.18.

Institutional Investors Weigh In On Chindata Group

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. acquired a new stake in Chindata Group in the fourth quarter worth about $354,000. Price T Rowe Associates Inc. MD bought a new stake in Chindata Group in the fourth quarter worth about $92,000. Public Employees Retirement System of Ohio bought a new stake in Chindata Group in the fourth quarter worth about $27,000. Barclays PLC bought a new stake in Chindata Group in the fourth quarter worth about $318,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Chindata Group in the fourth quarter worth about $57,000. Institutional investors and hedge funds 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.