Chindata Group (NASDAQ:CD) Shares Up 18.3% – Still a Buy?

Chindata Group Holdings Limited (NASDAQ:CD)’s share price shot up 18.3% during mid-day trading on Tuesday . The stock traded as high as $4.60 and last traded at $4.60. Approximately 191,306 shares changed hands during trading, a decline of 5% from the average session volume of 200,385 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

CD has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Chindata Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Chindata Group Stock Up 18.3%

The business’s fifty day moving average is $3.23 and its 200-day moving average is $4.67. The stock has a market capitalization of $506.00 million, a PE ratio of -153.33 and a beta of 5.23.

Institutional Trading of Chindata Group

An institutional investor recently raised its position in Chindata Group stock. Bank of New York Mellon Corp grew its holdings in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,907 shares of the company’s stock after buying an additional 7,060 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Chindata Group worth $350,000 at the end of the most recent quarter. 30.82% of the stock is owned by hedge funds and other institutional investors.

About Chindata Group

Chindata Group Holdings Limited was a data center operator that provided infrastructure and technology services for cloud service providers, internet companies, financial institutions and other enterprise customers. Its offerings included the design, development and operation of hyperscale data centers, as well as related network connectivity, computing infrastructure and information technology services.

Founded in 2015 and headquartered in Beijing, Chindata focused primarily on markets across Asia-Pacific, including China and selected countries in Southeast and South Asia.