Chindata Group (NASDAQ:CD) Shares Down 8.2% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD) shares were down 8.2% during mid-day trading on Tuesday . The company traded as low as $9.31 and last traded at $9.63. Approximately 154,057 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 134,596 shares. The stock had previously closed at $10.49.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Chindata Group currently has a consensus rating of “Sell”.

Chindata Group Price Performance

The firm has a 50 day moving average price of $5.36 and a 200-day moving average price of $6.07.

Chindata Group (NASDAQ:CD) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $0.51 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CD. State of Alaska Department of Revenue acquired a new position in Chindata Group during the fourth quarter worth approximately $79,000. Geode Capital Management LLC acquired a new position in Chindata Group during the fourth quarter worth approximately $2,642,000. Intech Investment Management LLC acquired a new position in Chindata Group during the fourth quarter worth approximately $81,000. Goldman Sachs Group Inc. acquired a new position in Chindata Group during the fourth quarter worth approximately $533,000. Finally, Nuveen LLC acquired a new position in Chindata Group during the fourth quarter worth approximately $408,000. Institutional investors and hedge funds own 30.82% of the company’s stock.

About Chindata Group

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.