Chindata Group (NASDAQ:CD) Shares Climb 8.2% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD) shot up 8.2% during mid-day trading on Thursday. The company traded as high as $8.30 and last traded at $8.29. Approximately 35,999 shares changed hands during trading, a decline of 83% from the average session volume of 209,745 shares. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

Several research firms recently commented on CD. Wall Street Zen upgraded Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings downgraded Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Chindata Group has an average rating of “Sell”.

Chindata Group Stock Performance

The company has a market capitalization of $902.03 million, a PE ratio of -273.33 and a beta of 5.06. The company has a 50 day moving average price of $4.98 and a 200 day moving average price of $5.02.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Chindata Group stock. Bank of New York Mellon Corp raised its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,907 shares of the company’s stock after acquiring an additional 7,060 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.11% of Chindata Group worth $350,000 at the end of the most recent quarter. 30.82% of the stock is owned by institutional investors.

About Chindata Group

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.