Chindata Group (NASDAQ:CD) Shares Down 7.5% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD) dropped 7.5% during trading on Thursday . The company traded as low as $7.15 and last traded at $7.40. Approximately 46,276 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 138,599 shares. The stock had previously closed at $8.00.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Chindata Group Stock Down 23.0%

The stock’s 50-day moving average price is $6.03 and its 200 day moving average price is $6.06. The firm has a market capitalization of $489.35 million, a price-to-earnings ratio of -308.00 and a beta of 4.98.

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

Insider Activity

In related news, insider Wilfred Zhongkei Daye sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total value of $38,640.00. Following the completion of the sale, the insider owned 75,765 shares of the company’s stock, valued at approximately $731,889.90. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 8,000 shares of company stock valued at $76,020 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Chindata Group

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Chindata Group by 11.8% in the first quarter. Bank of America Corp DE now owns 35,834 shares of the company’s stock valued at $143,000 after purchasing an additional 3,792 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Chindata Group by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 87,907 shares of the company’s stock valued at $350,000 after purchasing an additional 7,060 shares during the period. Invesco Ltd. purchased a new stake in shares of Chindata Group in the fourth quarter valued at about $354,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Chindata Group in the fourth quarter valued at about $92,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Chindata Group during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 30.82% of the company’s stock.

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.