Chindata Group (NASDAQ:CD) Trading 11.8% Higher – Should You Buy?

Chindata Group Holdings Limited (NASDAQ:CD)’s share price rose 11.8% during trading on Wednesday . The company traded as high as $10.76 and last traded at $10.73. Approximately 53,943 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 134,676 shares. The stock had previously closed at $9.60.

Analysts Set New Price Targets

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

Chindata Group Stock Down 5.4%

The stock’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $6.05.

Chindata Group (NASDAQ:CD) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.51 million during the quarter.

Institutional Investors Weigh In On Chindata Group

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Chindata Group in the 4th quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Chindata Group in the 4th quarter worth approximately $45,000. New York State Common Retirement Fund purchased a new stake in Chindata Group in the 4th quarter worth approximately $51,000. The Manufacturers Life Insurance Company purchased a new stake in Chindata Group in the 4th quarter worth approximately $57,000. Finally, MetLife Investment Management LLC purchased a new stake in Chindata Group in the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 30.82% of the company’s stock.

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.