Chindata Group (NASDAQ:CD) Trading Down 8.2% – Here’s Why

Chindata Group Holdings Limited (NASDAQ:CD) shares fell 8.2% on Tuesday . The stock traded as low as $9.31 and last traded at $9.63. 154,057 shares were traded during trading, an increase of 14% from the average session volume of 134,596 shares. The stock had previously closed at $10.49.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One equities 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 Stock Down 10.1%

The stock’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $6.05.

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 firm had revenue of $0.51 million for the quarter.

Institutional Trading of Chindata Group

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

About Chindata Group

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.