Chindata Group (NASDAQ:CD) Shares Gap Down – Time to Sell?

Chindata Group Holdings Limited (NASDAQ:CD) shares gapped down prior to trading on Friday. The stock had previously closed at $10.91, but opened at $10.60. Chindata Group shares last traded at $7.24, with a volume of 108,886 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CD. Weiss Ratings reissued a “sell (d)” rating on shares of Chindata Group in a research report on Monday, September 21st. Wall Street Zen upgraded shares of Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Chindata Group Stock Down 24.1%

The stock has a fifty day moving average of $4.21 and a 200-day moving average of $4.81. The firm has a market capitalization of $910.80 million, a P/E ratio of -276.00 and a beta of 5.06.

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

Hedge Funds Weigh In On Chindata Group

A hedge fund recently raised its position in Chindata Group stock. Bank of America Corp DE increased its position in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the quarter. 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 and hedge funds own 30.82% of the company’s stock.

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.