Chindata Group (NASDAQ:CD) Shares Up 9.4% – What’s Next?

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price rose 9.4% during trading on Thursday . The stock traded as high as $6.80 and last traded at $6.75. Approximately 30,335 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 130,249 shares. The stock had previously closed at $6.17.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Chindata Group Stock Performance

The stock has a 50-day moving average price of $5.03 and a 200-day moving average price of $6.04.

Institutional Trading of Chindata Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Chindata Group by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 87,907 shares of the company’s stock worth $350,000 after acquiring an additional 7,060 shares during the last quarter. Invesco Ltd. bought a new stake in Chindata Group in the fourth quarter valued at about $354,000. Price T Rowe Associates Inc. MD bought a new stake in Chindata Group in the fourth quarter valued at about $92,000. Public Employees Retirement System of Ohio bought a new stake in Chindata Group in the fourth quarter valued at about $27,000. Finally, Barclays PLC bought a new stake in Chindata Group in the fourth quarter valued at about $318,000. 30.82% of the stock is owned by hedge funds and other institutional investors.

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.