Chindata Group (NASDAQ:CD) Shares Up 9.4% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD)’s share price shot up 9.4% on Thursday . The company traded as high as $6.80 and last traded at $6.75. 30,335 shares traded hands during trading, a decline of 77% from the average session volume of 130,249 shares. The stock had previously closed at $6.17.

Analyst Ratings Changes

Separately, Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Chindata Group Trading Up 19.0%

The company’s 50 day moving average price is $5.03 and its 200-day moving average price is $6.04.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CD. State of Alaska Department of Revenue purchased a new position in Chindata Group in the fourth quarter valued at about $79,000. Geode Capital Management LLC purchased a new position in Chindata Group in the fourth quarter valued at about $2,642,000. Intech Investment Management LLC purchased a new position in Chindata Group in the fourth quarter valued at about $81,000. Goldman Sachs Group Inc. purchased a new position in Chindata Group in the fourth quarter valued at about $533,000. Finally, Nuveen LLC purchased a new position in Chindata Group in the fourth quarter valued at about $408,000. 30.82% of the stock is owned by hedge funds and other institutional investors.

About Chindata Group

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.