Chindata Group (NASDAQ:CD) Posts Quarterly Earnings Results

Chindata Group (NASDAQ:CD) posted its earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $0.51 million for the quarter.

Chindata Group Stock Performance

Shares of CD traded up $0.72 during trading hours on Friday, hitting $8.29. The stock had a trading volume of 151,893 shares, compared to its average volume of 83,307. The firm has a 50-day moving average price of $5.08 and a 200 day moving average price of $6.05. Chindata Group has a fifty-two week low of $1.38 and a fifty-two week high of $36.77.

Hedge Funds Weigh In On Chindata Group

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in Chindata Group during the fourth quarter worth $2,642,000. Intech Investment Management LLC acquired a new position in Chindata Group during the fourth quarter worth $81,000. Goldman Sachs Group Inc. acquired a new position in Chindata Group during the fourth quarter worth $533,000. Nuveen LLC acquired a new position in Chindata Group during the fourth quarter worth $408,000. Finally, New York State Common Retirement Fund acquired a new position in Chindata Group during the fourth quarter worth $51,000. 30.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.