Chindata Group (NASDAQ:CD) Stock Price Up 13.4% – Still a Buy?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) shot up 13.4% on Tuesday . The stock traded as high as $8.49 and last traded at $8.38. 19,683 shares traded hands during trading, a decline of 86% from the average session volume of 135,905 shares. The stock had previously closed at $7.39.

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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Chindata Group Stock Up 19.1%

The company’s fifty day moving average price is $5.46 and its 200 day moving average price is $6.05. The company has a market capitalization of $699.07 million, a P/E ratio of -440.00 and a beta of 4.93.

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

Insider Transactions at Chindata Group

In other Chindata Group news, insider Wilfred Zhongkei Daye sold 4,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.66, for a total transaction of $38,640.00. Following the sale, the insider directly owned 75,765 shares in the company, valued at $731,889.90. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 8,000 shares of company stock worth $76,020 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Chindata Group by 11.8% in the 1st quarter. Bank of America Corp DE now owns 35,834 shares of the company’s stock valued at $143,000 after purchasing an additional 3,792 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Chindata Group during the 4th quarter worth $27,000. Bank of New York Mellon Corp boosted its stake in Chindata Group by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 87,907 shares of the company’s stock valued at $350,000 after buying an additional 7,060 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Chindata Group in the fourth quarter valued at about $45,000. Finally, New York State Common Retirement Fund acquired a new position in Chindata Group during the fourth quarter worth about $51,000. 30.82% of the stock is owned by institutional investors.

About Chindata Group

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.