Chindata Group (NASDAQ:CD) Shares Climb 11% – What’s Next?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) rose 11% during trading on Monday. The stock traded as high as $5.74 and last traded at $5.74. Approximately 14,806 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 200,786 shares. The stock had previously closed at $5.17.

Analysts Set New Price Targets

Several equities analysts have commented on CD shares. Wall Street Zen downgraded shares of Chindata Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chindata Group in a research note on Monday, September 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Chindata Group currently has an average rating of “Sell”.

Chindata Group Price Performance

The business’s 50 day moving average is $3.37 and its 200-day moving average is $4.62. The company has a market cap of $683.10 million, a PE ratio of -207.00 and a beta of 5.23.

Chindata Group (NASDAQ:CD) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.01) EPS for the quarter. The business had revenue of $0.46 million for the quarter.

Hedge Funds Weigh In On Chindata Group

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

About Chindata Group

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.