Chindata Group (NASDAQ:CD) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $5.19 and traded as low as $5.05. Chindata Group shares last traded at $5.15, with a volume of 310,396 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CD shares. Wall Street Zen raised shares of Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings lowered Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Chindata Group Stock Down 12.6%

The company’s 50-day moving average is $5.92 and its two-hundred day moving average is $5.19. The company has a market capitalization of $566.50 million, a P/E ratio of -171.67 and a beta of 5.15.

Chindata Group (NASDAQ:CD) last released its quarterly earnings results 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

An institutional investor recently raised its stake in Chindata Group stock. Bank of America Corp DE grew its stake in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the quarter. 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.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center operator and infrastructure services provider focused on hyperscale computing facilities in emerging Asian markets. The company developed, owned and operated data centers designed to support cloud service providers, internet companies, telecommunications firms and other enterprise customers.

Its services included data center design, construction and operation; colocation and managed infrastructure; cloud and network services; and related information technology infrastructure solutions.