Chindata Group (NASDAQ:CD) Stock Price Up 8.2% – Still a Buy?

Chindata Group Holdings Limited (NASDAQ:CD) shares rose 8.2% on Thursday. The company traded as high as $8.30 and last traded at $8.29. 35,999 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 209,745 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CD shares. Weiss Ratings downgraded shares of Chindata Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Chindata Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Chindata Group currently has an average rating of “Sell”.

Chindata Group Trading Up 6.8%

The stock has a market cap of $963.60 million, a PE ratio of -292.00 and a beta of 5.06. The business has a 50-day moving average price of $5.17 and a 200-day moving average price of $5.07.

Chindata Group (NASDAQ:CD) last released its quarterly 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 for the quarter.

Institutional Trading of Chindata Group

An institutional investor recently raised its position in Chindata Group stock. Bank of America Corp DE increased its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,834 shares of the company’s stock after purchasing an additional 3,792 shares during the period. 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. 30.82% of the stock is currently owned by institutional investors.

About Chindata Group

Chindata Group Holdings Limited was a data center operator and infrastructure services provider focused on hyperscale computing facilities in emerging Asian markets. The company developed, owned and operated data centers designed to support cloud service providers, internet companies, telecommunications firms and other enterprise customers.

Its services included data center design, construction and operation; colocation and managed infrastructure; cloud and network services; and related information technology infrastructure solutions.