Chindata Group (NASDAQ:CD) Shares Gap Up – Should You Buy?

Chindata Group Holdings Limited (NASDAQ:CD) gapped up prior to trading on Thursday. The stock had previously closed at $4.28, but opened at $4.58. Chindata Group shares last traded at $4.71, with a volume of 24,859 shares trading hands.

Wall Street Analyst Weigh In

CD has been the topic of a number of recent research reports. Wall Street Zen cut Chindata Group from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chindata Group in a report on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Chindata Group Trading Up 3.1%

The firm has a market cap of $586.30 million, a P/E ratio of -177.67 and a beta of 5.23. The stock’s fifty day moving average is $3.37 and its two-hundred day moving average is $4.63.

Chindata Group (NASDAQ:CD) last announced its quarterly earnings results 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 Investors Weigh In On Chindata Group

An institutional investor recently raised its position in Chindata Group stock. Bank of New York Mellon Corp boosted its holdings in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,907 shares of the company’s stock after buying an additional 7,060 shares during the period. Bank of New York Mellon Corp owned approximately 0.11% of Chindata Group worth $350,000 as of its most recent SEC filing. 30.82% of the stock is currently owned by hedge funds and other institutional investors.

About Chindata Group

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.