Chindata Group (NASDAQ:CD) Shares Down 7.5% – Time to Sell?

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price dropped 7.5% during mid-day trading on Thursday . The stock traded as low as $7.15 and last traded at $7.40. Approximately 46,276 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 138,599 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

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

Chindata Group Price Performance

The business has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $6.04. The company has a market cap of $423.44 million, a PE ratio of -266.50 and a beta of 4.98.

Chindata Group (NASDAQ:CD) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $0.51 million during the quarter.

Insider Activity at Chindata Group

In other news, insider Wilfred Zhongkei Daye sold 4,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.66, for a total transaction of $38,640.00. Following the completion of the sale, the insider owned 75,765 shares in the company, valued at approximately $731,889.90. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 8,000 shares of company stock worth $76,020. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Chindata Group

Several hedge funds and other institutional investors have recently made changes to their positions in CD. Public Employees Retirement System of Ohio purchased a new stake in shares of Chindata Group during the 4th quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Chindata Group during the 4th quarter valued at $45,000. New York State Common Retirement Fund purchased a new stake in shares of Chindata Group during the 4th quarter valued at $51,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Chindata Group during the 4th quarter valued at $57,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Chindata Group during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 30.82% of the company’s stock.

Chindata Group Company Profile

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.