Chindata Group (NASDAQ:CD) Shares Climb 4.4% – Here’s What Happened

Chindata Group Holdings Limited (NASDAQ:CD) shot up 4.4% on Friday. The stock traded as high as $7.34 and last traded at $7.29. 46,127 shares traded hands during trading, a decline of 78% from the average session volume of 207,128 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

CD has been the subject of a number of research analyst reports. Weiss Ratings lowered Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Chindata Group has a consensus rating of “Sell”.

Chindata Group Price Performance

The company’s fifty day moving average price is $4.63 and its 200 day moving average price is $4.93. The company has a market cap of $776.60 million, a PE ratio of -235.33 and a beta of 5.06.

Chindata Group (NASDAQ:CD) last posted 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.

Institutional Investors Weigh In On Chindata Group

An institutional investor recently raised its stake in Chindata Group stock. Bank of America Corp DE boosted its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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. Hedge funds and other institutional investors own 30.82% of the company’s stock.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center solution provider focused on serving cloud service providers, internet companies and other enterprise customers in emerging markets across the Asia-Pacific region. The company developed and operated hyperscale data center campuses and provided supporting infrastructure for customers with large-scale computing and storage requirements.

Its services included data center planning, design, construction and operation, as well as facilities management, network connectivity and related information technology infrastructure services.