Chindata Group (NASDAQ:CD) Trading 0.3% Higher - What's Next?

Key Points

• Chindata Group shares rose 0.3% to $3.05, while trading volume fell 30% below the average daily level.
• The stock remains under pressure, trading well below its 50-day and 200-day moving averages, at $4.32 and $5.12 respectively. The company reported a quarterly loss of $0.02 per share and $0.51 million in revenue.
• Analyst sentiment is bearish: Weiss Ratings reaffirmed a “sell” rating, and MarketBeat reports an average rating of “Sell.” Institutional investors own 30.82% of the company, while insiders sold 8,000 shares over the past quarter.

Chindata Group Holdings Limited (NASDAQ:CD - Get Free Report) shares rose 0.3% on Thursday . The stock traded as high as $3.13 and last traded at $3.05. 109,047 shares traded hands during trading, a decline of 30% from the average daily volume of 155,605 shares. The stock had previously closed at $3.04.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Chindata Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Chindata Group Stock Performance

The firm has a market cap of $242.29 million, a price-to-earnings ratio of -152.50 and a beta of 5.19. The business's 50 day moving average price is $4.32 and its 200 day moving average price is $5.12.

Chindata Group (NASDAQ:CD - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $0.51 million for the quarter.

Insider Buying and Selling

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.66, for a total value of $38,640.00. Following the completion of the sale, the insider directly owned 75,765 shares in the company, valued at $731,889.90. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,000 shares of company stock valued at $76,020 over the last quarter. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chindata Group

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Chindata Group during the fourth quarter worth $79,000. Geode Capital Management LLC acquired a new stake in shares of Chindata Group in the fourth quarter valued at about $2,642,000. Intech Investment Management LLC acquired a new stake in shares of Chindata Group in the fourth quarter valued at about $81,000. Goldman Sachs Group Inc. purchased a new stake in shares of Chindata Group during the fourth quarter worth about $533,000. Finally, Nuveen LLC purchased a new stake in shares of Chindata Group during the fourth quarter worth about $408,000. Institutional investors and hedge funds 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.

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