Chindata Group (NASDAQ:CD) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $5.19 and traded as low as $5.05. Chindata Group shares last traded at $5.15, with a volume of 310,396 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CD. Weiss Ratings lowered shares of Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Chindata Group Stock Performance

The firm has a market capitalization of $566.50 million, a PE ratio of -171.67 and a beta of 5.15. The company’s 50-day moving average price is $5.92 and its 200-day moving average price is $5.19.

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

Institutional Investors Weigh In On Chindata Group

An institutional investor recently raised its position in Chindata Group stock. Bank of America Corp DE grew its position in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,834 shares of the company’s stock after buying an additional 3,792 shares during the period. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 as of its most recent SEC filing. 30.82% of the stock is currently owned by institutional investors and hedge funds.

Chindata Group Company Profile

Chindata Group Holdings Limited was a data center operator and infrastructure services provider focused on hyperscale computing facilities in emerging Asian markets. The company developed, owned and operated data centers designed to support cloud service providers, internet companies, telecommunications firms and other enterprise customers.

Its services included data center design, construction and operation; colocation and managed infrastructure; cloud and network services; and related information technology infrastructure solutions.