Chindata Group (NASDAQ:CD) Stock Price Up 11.8% – Time to Buy?

Chindata Group Holdings Limited (NASDAQ:CD)’s share price rose 11.8% on Wednesday . The stock traded as high as $10.76 and last traded at $10.73. Approximately 53,943 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 134,676 shares. The stock had previously closed at $9.60.

Analysts Set New Price Targets

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

Chindata Group Stock Down 18.2%

The firm has a market cap of $614.07 million, a price-to-earnings ratio of -386.50 and a beta of 4.93. The business has a 50 day moving average of $5.36 and a 200 day moving average of $6.07.

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

Insider Activity at Chindata Group

In related 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 sale, the insider owned 75,765 shares of the company’s stock, valued at $731,889.90. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,000 shares of company stock worth $76,020 over the last quarter. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chindata Group

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Chindata Group by 11.8% during the first quarter. Bank of America Corp DE now owns 35,834 shares of the company’s stock worth $143,000 after buying an additional 3,792 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Chindata Group during the fourth quarter worth about $27,000. Bank of New York Mellon Corp lifted its position in 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 buying an additional 7,060 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Chindata Group during the fourth quarter worth about $45,000. Finally, New York State Common Retirement Fund purchased a new position in Chindata Group during the fourth quarter worth about $51,000. 30.82% of the stock is currently owned by hedge funds and other institutional investors.

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.