Chindata Group (NASDAQ:CD) Stock Price Up 18.3% – Time to Buy?

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price was up 18.3% on Tuesday . The stock traded as high as $4.60 and last traded at $4.60. 191,306 shares changed hands during trading, a decline of 5% from the average daily volume of 200,385 shares. The stock had previously closed at $3.89.

Analyst Ratings Changes

Several analysts recently issued reports on CD shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Chindata Group in a report on Wednesday, June 24th. Wall Street Zen downgraded Chindata Group from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Chindata Group Stock Up 18.3%

The company has a market capitalization of $506.00 million, a price-to-earnings ratio of -153.33 and a beta of 5.23. The firm has a 50 day moving average price of $3.23 and a two-hundred day moving average price of $4.67.

Institutional Investors Weigh In On Chindata Group

An institutional investor recently raised its stake in Chindata Group stock. Bank of America Corp DE grew its holdings in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,834 shares of the company’s stock after buying an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 as of its most recent SEC filing. Institutional investors and hedge funds own 30.82% of the company’s stock.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center operator that provided infrastructure and technology services for cloud service providers, internet companies, financial institutions and other enterprise customers. Its offerings included the design, development and operation of hyperscale data centers, as well as related network connectivity, computing infrastructure and information technology services.

Founded in 2015 and headquartered in Beijing, Chindata focused primarily on markets across Asia-Pacific, including China and selected countries in Southeast and South Asia.