Chindata Group (NASDAQ:CD) Shares Up 0.3% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price shot up 0.3% on Thursday . The company traded as high as $3.13 and last traded at $3.05. 109,047 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 155,605 shares. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research note on Wednesday, June 24th. One research 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 Trading Down 13.1%

The firm has a market capitalization of $210.52 million, a PE ratio of -132.50 and a beta of 5.19. The business has a 50 day moving average price of $4.21 and a 200-day moving average price of $5.11.

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

Insider Buying and Selling at Chindata Group

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total transaction of $38,640.00. Following the transaction, the insider directly owned 75,765 shares of the company’s stock, valued at $731,889.90. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $76,020. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CD. Public Employees Retirement System of Ohio acquired a new stake in shares of Chindata Group during the 4th quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Chindata Group in the 4th quarter worth approximately $45,000. New York State Common Retirement Fund purchased a new position in Chindata Group in the 4th quarter valued at approximately $51,000. The Manufacturers Life Insurance Company purchased a new position in Chindata Group in the 4th quarter valued at approximately $57,000. Finally, MetLife Investment Management LLC acquired a new position in Chindata Group during the fourth quarter worth $76,000. 30.82% of the stock is currently owned by institutional investors and hedge funds.

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.