Chindata Group (NASDAQ:CD) Stock Price Down 7.5% – Here’s What Happened

Shares of Chindata Group Holdings Limited (NASDAQ:CD) traded down 7.5% on Thursday . The stock traded as low as $7.15 and last traded at $7.40. 46,276 shares were traded during trading, a decline of 67% from the average session volume of 138,599 shares. The stock had previously closed at $8.00.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Chindata Group Stock Down 23.0%

The business’s fifty day simple moving average is $6.03 and its two-hundred day simple moving average is $6.06. The company has a market cap of $489.35 million, a price-to-earnings ratio of -308.00 and a beta of 4.98.

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

Insider Activity at Chindata Group

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of Chindata Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total value of $38,640.00. Following the transaction, the insider directly owned 75,765 shares of the company’s stock, valued at $731,889.90. The trade was a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $76,020. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Chindata Group

A number of institutional investors have recently modified their holdings of CD. State of Alaska Department of Revenue acquired a new position in shares of Chindata Group in the 4th quarter valued at $79,000. Geode Capital Management LLC acquired a new position in Chindata Group in the 4th quarter valued at $2,642,000. Intech Investment Management LLC acquired a new position in Chindata Group in the 4th quarter valued at $81,000. Goldman Sachs Group Inc. acquired a new position in Chindata Group in the 4th quarter valued at $533,000. Finally, Nuveen LLC purchased a new stake in shares of Chindata Group in the fourth quarter valued at about $408,000. 30.82% of the stock is owned by institutional investors and hedge funds.

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.