Chindata Group (NASDAQ:CD) Shares Gap Down – Time to Sell?

Chindata Group Holdings Limited (NASDAQ:CD) shares gapped down before the market opened on Friday. The stock had previously closed at $10.91, but opened at $10.60. Chindata Group shares last traded at $7.24, with a volume of 108,886 shares trading hands.

Analyst Upgrades and Downgrades

CD has been the subject of a number of research analyst reports. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Chindata Group in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Chindata Group currently has an average rating of “Sell”.

Chindata Group Trading Down 24.1%

The firm has a market capitalization of $910.80 million, a P/E ratio of -276.00 and a beta of 5.06. The company has a 50-day moving average of $4.21 and a 200-day moving average of $4.81.

Chindata Group (NASDAQ:CD) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $0.46 million for the quarter.

Hedge Funds Weigh In On Chindata Group

A hedge fund recently raised its stake in Chindata Group stock. Bank of America Corp DE lifted its holdings in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,834 shares of the company’s stock after acquiring an additional 3,792 shares during the period. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 at the end of the most recent reporting period. 30.82% of the stock is currently owned by hedge funds and other institutional investors.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center solution provider focused on serving cloud service providers, internet companies and other enterprise customers in emerging markets across the Asia-Pacific region. The company developed and operated hyperscale data center campuses and provided supporting infrastructure for customers with large-scale computing and storage requirements.

Its services included data center planning, design, construction and operation, as well as facilities management, network connectivity and related information technology infrastructure services.