Chindata Group (NASDAQ:CD) Trading Down 1.6% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price was down 1.6% during trading on Thursday . The company traded as low as $3.13 and last traded at $3.15. 206,750 shares were traded during mid-day trading, a decline of 50% from the average session volume of 414,516 shares. The stock had previously closed at $3.20.

Analysts Set New Price Targets

Several research firms have recently weighed in on CD. Wall Street Zen upgraded shares of Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Chindata Group has an average rating of “Sell”.

Chindata Group Trading Down 1.6%

The stock has a fifty day moving average of $5.81 and a two-hundred day moving average of $5.35. The company has a market capitalization of $250.24 million, a PE ratio of -157.50 and a beta of 5.10.

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

Insider Activity

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the company’s 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 completion of the sale, the insider owned 75,765 shares of the company’s stock, valued at approximately $731,889.90. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 8,000 shares of company stock valued at $76,020. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Chindata Group

Several hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in Chindata Group during the fourth quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Chindata Group in the fourth quarter worth about $45,000. New York State Common Retirement Fund bought a new stake in shares of Chindata Group in the 4th quarter valued at about $51,000. The Manufacturers Life Insurance Company bought a new stake in shares of Chindata Group in the 4th quarter valued at about $57,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Chindata Group in the 4th quarter valued at about $76,000. 30.82% of the stock is owned by institutional investors.

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.