Chindata Group (NASDAQ:CD) Stock Jumps 11% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD) shot up 11% during mid-day trading on Monday. The stock traded as high as $5.74 and last traded at $5.74. 14,806 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 200,786 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CD. Wall Street Zen lowered Chindata Group from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research report on Monday, September 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Chindata Group Trading Up 16.5%

The business’s fifty day moving average price is $3.37 and its 200 day moving average price is $4.62. The firm has a market capitalization of $683.10 million, a price-to-earnings ratio of -207.00 and a beta of 5.23.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Chindata Group stock. Bank of America Corp DE grew its stake in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the period. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 at the end of the most recent reporting period. Institutional investors own 30.82% of the company’s stock.

About Chindata Group

Chindata Group Holdings Limited was a data center operator that provided infrastructure and technology services for cloud service providers, internet companies, financial institutions and other enterprise customers. Its offerings included the design, development and operation of hyperscale data centers, as well as related network connectivity, computing infrastructure and information technology services.

Founded in 2015 and headquartered in Beijing, Chindata focused primarily on markets across Asia-Pacific, including China and selected countries in Southeast and South Asia.