Chindata Group Holdings Limited (NYSE:CD) shares were down 6.6% during mid-day trading on Friday . The stock traded as low as $15.25 and last traded at $15.45. Approximately 611,193 shares were traded during trading, a decline of 44% from the average daily volume of 1,099,557 shares. The stock had previously closed at $16.54.

Several equities analysts recently issued reports on CD shares. Morgan Stanley started coverage on shares of Chindata Group in a research note on Monday, October 26th. They set an “overweight” rating on the stock. Credit Suisse Group initiated coverage on shares of Chindata Group in a research note on Friday, October 30th. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Chindata Group in a research report on Monday, November 2nd. They set a “buy” rating and a $17.60 price target for the company.

A number of hedge funds have recently modified their holdings of CD. Fulcrum Asset Management LLP acquired a new stake in shares of Chindata Group in the third quarter worth $1,981,000. Thornburg Investment Management Inc. acquired a new stake in shares of Chindata Group in the third quarter worth $10,144,000. Matthews International Capital Management LLC acquired a new stake in shares of Chindata Group in the third quarter worth $39,609,000. GSA Capital Partners LLP acquired a new stake in shares of Chindata Group in the third quarter worth $243,000. Finally, BlackRock Inc. acquired a new stake in shares of Chindata Group in the third quarter worth $47,797,000.

About Chindata Group (NYSE:CD)

Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solution in China, India, and Southeast Asia markets. It offers colocation and managed, energy procurement and transmission, infrastructure, and IT and network services. The company was formerly known as BCPE Bridge Stack Limited and changed its name to Chindata Group Holdings Limited in April 2020.

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