Chindata Group (NASDAQ:CD) Shares Down 5.9% - Time to Sell?

Key Points

• Chindata Group shares fell 5.9% to $6.34 in mid-day trading, with volume down 44% from the average daily level.
• Analyst sentiment is strongly negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings reiterated a “sell” rating, and MarketBeat reports a consensus “Sell” rating.
• The company reported a quarterly loss of $0.01 per share and revenue of $0.46 million. Institutional investors own 30.82% of the stock, while Bank of New York Mellon recently increased its stake by 8.7%.

Shares of Chindata Group Holdings Limited (NASDAQ:CD - Get Free Report) dropped 5.9% during mid-day trading on Friday. The company traded as low as $6.33 and last traded at $6.34. 112,716 shares changed hands during trading, a decline of 44% from the average daily volume of 200,830 shares. The stock had previously closed at $6.74.

Wall Street Analyst Weigh In

CD has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Chindata Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of Chindata Group in a research note on Monday, September 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

Chindata Group Stock Down 3.9%

The company has a market cap of $712.80 million, a P/E ratio of -216.00 and a beta of 5.05. The firm's 50 day moving average is $3.63 and its two-hundred day moving average is $4.66.

Chindata Group (NASDAQ:CD - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company 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 raised its stake in Chindata Group Holdings Limited (NASDAQ:CD - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,907 shares of the company's stock after purchasing an additional 7,060 shares during the period. Bank of New York Mellon Corp owned 0.11% of Chindata Group worth $350,000 as of its most recent SEC filing. Institutional investors and hedge funds own 30.82% of the company's stock.

Chindata Group Company Profile

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.

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