Chindata Group (NASDAQ:CD) Stock Price Up 11.8% – Here’s What Happened

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

Analyst Ratings Changes

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

Chindata Group Stock Down 5.4%

The business’s fifty day moving average is $5.21 and its 200-day moving average is $6.05.

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

Institutional Investors Weigh In On Chindata Group

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company purchased a new position in Chindata Group during the fourth quarter worth $57,000. Wells Fargo & Company MN bought a new stake in shares of Chindata Group in the 4th quarter valued at about $226,000. CI Investments Inc. bought a new position in shares of Chindata Group during the fourth quarter valued at approximately $84,000. Jane Street Group LLC bought a new position in shares of Chindata Group during the fourth quarter valued at approximately $292,000. Finally, HRT Financial LP bought a new position in shares of Chindata Group during the fourth quarter valued at approximately $205,000. 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.