Chindata Group (NASDAQ:CD) Shares Down 5.3% – What’s Next?

Shares of Chindata Group Holdings Limited (NASDAQ:CD) were down 5.3% during trading on Friday . The stock traded as low as $5.12 and last traded at $5.15. Approximately 60,052 shares were traded during trading, a decline of 29% from the average daily volume of 84,307 shares. The stock had previously closed at $5.44.

Analyst Upgrades and Downgrades

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

Chindata Group Price Performance

The business has a 50 day simple moving average of $4.80 and a 200 day simple moving average of $6.19.

Institutional Investors Weigh In On Chindata Group

Several large investors have recently made changes to their positions in CD. Price T Rowe Associates Inc. MD bought a new position in Chindata Group during the fourth quarter valued at approximately $92,000. Barclays PLC bought a new stake in Chindata Group in the fourth quarter worth approximately $318,000. Wells Fargo & Company MN bought a new stake in Chindata Group in the fourth quarter worth approximately $226,000. CI Investments Inc. acquired a new position in Chindata Group during the fourth quarter worth $84,000. Finally, Jane Street Group LLC acquired a new position in Chindata Group during the fourth quarter worth $292,000. 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.