Chindata Group (NASDAQ:CD) Stock Price Down 7.8% – Should You Sell?

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price fell 7.8% during mid-day trading on Thursday . The stock traded as low as $4.25 and last traded at $4.36. Approximately 218,217 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 219,240 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d)” rating on shares of Chindata Group in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Chindata Group currently has a consensus rating of “Sell”.

Chindata Group Stock Performance

The company’s 50 day simple moving average is $6.26 and its 200 day simple moving average is $5.60. The stock has a market cap of $380.54 million, a PE ratio of -239.50 and a beta of 4.98.

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

Insider Activity

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.66, for a total transaction of $38,640.00. Following the completion of the sale, the insider directly owned 75,765 shares of the company’s stock, valued at $731,889.90. This trade represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 8,000 shares of company stock worth $76,020. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Chindata Group

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Chindata Group by 11.8% during the 1st quarter. Bank of America Corp DE now owns 35,834 shares of the company’s stock valued at $143,000 after acquiring an additional 3,792 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Chindata Group in the fourth quarter valued at approximately $27,000. Bank of New York Mellon Corp grew its holdings in Chindata Group by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 87,907 shares of the company’s stock valued at $350,000 after purchasing an additional 7,060 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Chindata Group during the fourth quarter valued at $45,000. Finally, New York State Common Retirement Fund purchased a new stake in Chindata Group in the fourth quarter worth $51,000. Institutional investors own 30.82% of the company’s stock.

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.