Chindata Group (NASDAQ:CD) Stock Falls 8.5% - What's Next?

Key Points

• Chindata Group shares fell 8.5% to $4.73 in low-volume trading, with volume down 91% from the average daily level.
• Analyst sentiment remains bearish: Weiss Ratings maintained a “sell” rating, Wall Street Zen downgraded the stock to “sell,” and MarketBeat reports an average rating of “Sell.”
• The company reported a quarterly loss of $0.01 per share and revenue of $0.46 million; institutional investors own approximately 30.82% of the stock, while Bank of America increased its stake by 11.8%.

Chindata Group Holdings Limited (NASDAQ:CD - Get Free Report) shares were down 8.5% during trading on Friday. The company traded as low as $4.69 and last traded at $4.73. Approximately 17,962 shares were traded during trading, a decline of 91% from the average daily volume of 199,979 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several research firms recently commented on CD. Weiss Ratings reiterated a "sell (d)" rating on shares of Chindata Group in a research report on Monday. Wall Street Zen lowered shares of Chindata Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Chindata Group Stock Up 1.2%

The stock has a fifty day moving average price of $3.32 and a two-hundred day moving average price of $4.63. The company has a market capitalization of $575.30 million, a price-to-earnings ratio of -174.33 and a beta of 5.23.

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

Hedge Funds Weigh In On Chindata Group

A hedge fund recently raised its stake in Chindata Group stock. Bank of America Corp DE increased its position in shares of Chindata Group Holdings Limited (NASDAQ:CD - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,834 shares of the company's stock after acquiring an additional 3,792 shares during the quarter. Bank of America Corp DE's holdings in Chindata Group were worth $143,000 as of its most recent filing with the SEC. 30.82% of the stock is currently owned by hedge funds and other institutional investors.

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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