Chindata Group (NASDAQ:CD) Stock Jumps 8.3% – Here’s What Happened

Chindata Group Holdings Limited (NASDAQ:CD)’s share price shot up 8.3% on Tuesday. The company traded as high as $8.42 and last traded at $8.13. Approximately 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 Analysts Forecast Growth

CD has been the topic of several recent analyst reports. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Chindata Group in a report on Monday, September 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Chindata Group currently has an average rating of “Sell”.

Chindata Group Stock Up 22.0%

The firm’s fifty day moving average is $4.05 and its two-hundred day moving average is $4.76. The firm has a market cap of $1.12 billion, a P/E ratio of -338.33 and a beta of 5.06.

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

Institutional Trading of Chindata Group

A hedge fund recently raised its position in Chindata Group stock. Bank of America Corp DE increased its position in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the first quarter, according to the company in its most recent 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 as of its most recent filing with the Securities & Exchange Commission. 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 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.