Chindata Group (NASDAQ:CD) Stock Falls 6.5% – Should You Sell?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) were down 6.5% on Thursday. The stock traded as low as $9.08 and last traded at $9.49. Approximately 33,274 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 200,899 shares. The stock had previously closed at $10.15.

Analyst Upgrades and Downgrades

CD has been the topic of several analyst reports. Wall Street Zen raised shares of Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings cut shares of Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Chindata Group Stock Performance

The firm has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $4.84. The company has a market capitalization of $952.60 million, a PE ratio of -288.67 and a beta of 5.06.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Chindata Group stock. Bank of America Corp DE grew its stake in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 30.82% of the company’s stock.

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.