Chindata Group (NASDAQ:CD) Trading 13.4% Higher – Time to Buy?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) traded up 13.4% during mid-day trading on Tuesday . The company traded as high as $8.49 and last traded at $8.38. 19,683 shares changed hands during trading, a decline of 86% from the average session volume of 135,905 shares. The stock had previously closed at $7.39.

Wall Street Analyst Weigh In

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

Chindata Group Price Performance

The firm has a 50-day simple moving average of $5.46 and a 200 day simple moving average of $6.05. The stock has a market capitalization of $699.07 million, a P/E ratio of -440.00 and a beta of 4.93.

Chindata Group (NASDAQ:CD) last released 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.

Insiders Place Their Bets

In other Chindata Group news, insider Wilfred Zhongkei Daye sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total value of $38,640.00. Following the completion of the transaction, the insider directly owned 75,765 shares in the company, valued at approximately $731,889.90. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $76,020. Insiders own 5.50% of the company’s stock.

Institutional Trading of Chindata Group

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC acquired a new stake in Chindata Group in the fourth quarter valued at $2,642,000. State Street Corp bought a new stake in shares of Chindata Group in the 4th quarter valued at about $2,541,000. Goldman Sachs Group Inc. bought a new stake in shares of Chindata Group in the 4th quarter valued at about $533,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Chindata Group in the fourth quarter valued at about $495,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Chindata Group by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 87,907 shares of the company’s stock valued at $350,000 after buying an additional 7,060 shares during the period. 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.