Chindata Group (NASDAQ:CD) Shares Climb 8.2% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

Chindata Group Trading Up 7.0%

The stock has a market capitalization of $902.03 million, a price-to-earnings ratio of -273.33 and a beta of 5.06. The firm has a 50-day moving average of $4.98 and a 200 day moving average of $5.02.

Chindata Group (NASDAQ:CD) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $0.46 million for the quarter.

Institutional Investors Weigh In On Chindata Group

An institutional investor recently raised its stake in Chindata Group stock. Bank of America Corp DE boosted its position in Chindata Group Holdings Limited (NASDAQ:CD) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,834 shares of the company’s stock after buying an additional 3,792 shares during the quarter. Bank of America Corp DE’s holdings in Chindata Group were worth $143,000 at the end of the most recent quarter. Institutional investors own 30.82% of the company’s stock.

About Chindata Group

Chindata Group Holdings Limited was a data center solution provider focused on serving cloud service providers, internet companies and other enterprise customers in emerging markets across the Asia-Pacific region. The company developed and operated hyperscale data center campuses and provided supporting infrastructure for customers with large-scale computing and storage requirements.

Its services included data center planning, design, construction and operation, as well as facilities management, network connectivity and related information technology infrastructure services.