Chindata Group (NASDAQ:CD) Shares Climb 8.3% - Should You Buy?

Key Points

• Chindata Group shares rose 8.3% to $8.13, reaching an intraday high of $8.42, although trading volume was 76% below its average.
• Analyst sentiment remains negative: the stock carries an average “Sell” rating, with one analyst maintaining a sell recommendation while another upgraded it to “Hold.”
• The company reported a quarterly loss of $0.01 per share on $0.46 million in revenue. Institutional investors own 30.82% of the stock, and Bank of New York Mellon recently increased its stake by 8.7%.

Shares of Chindata Group Holdings Limited (NASDAQ:CD - Get Free Report) traded up 8.3% during trading on Tuesday. The company traded as high as $8.42 and last traded at $8.13. 48,577 shares traded hands during trading, a decline of 76% from the average daily volume of 200,333 shares. The stock had previously closed at $7.51.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CD shares. Wall Street Zen raised shares of Chindata Group from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings reiterated a "sell (d)" rating on shares of Chindata Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Chindata Group Trading Up 8.5%

The stock's fifty day moving average price is $3.80 and its 200 day moving average price is $4.70. The stock has a market cap of $896.50 million, a P/E ratio of -271.67 and a beta of 5.06.

Chindata Group (NASDAQ:CD - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $0.46 million during the quarter.

Institutional Trading of Chindata Group

An institutional investor recently raised its stake in Chindata Group stock. Bank of New York Mellon Corp increased its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 30.82% of the company's stock.

Chindata Group Company Profile

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.

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