Chindata Group Holdings Limited (NASDAQ:CD) Sees Significant Increase in Short Interest

Chindata Group Holdings Limited (NASDAQ:CDGet Rating) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 7,540,000 shares, an increase of 20.6% from the April 15th total of 6,250,000 shares. Based on an average daily trading volume, of 2,430,000 shares, the short-interest ratio is currently 3.1 days.

A number of institutional investors and hedge funds have recently bought and sold shares of CD. Exchange Traded Concepts LLC acquired a new position in shares of Chindata Group in the 1st quarter valued at about $25,000. US Bancorp DE acquired a new position in shares of Chindata Group in the 3rd quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Chindata Group by 116.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company’s stock valued at $42,000 after purchasing an additional 3,616 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Chindata Group in the 3rd quarter valued at about $45,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Chindata Group in the 1st quarter valued at about $66,000. Institutional investors own 19.89% of the company’s stock.

Several equities analysts have recently weighed in on CD shares. Zacks Investment Research downgraded Chindata Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 17th. Credit Suisse Group upgraded Chindata Group from a “neutral” rating to an “outperform” rating and set a $8.30 price target for the company in a research note on Monday, March 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.27.

CD opened at $6.75 on Wednesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 48.22 and a beta of 1.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average price of $6.02 and a 200 day moving average price of $6.43. Chindata Group has a 12 month low of $3.75 and a 12 month high of $17.18.

Chindata Group (NASDAQ:CDGet Rating) last announced its earnings results on Thursday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $122.67 million during the quarter, compared to analysts’ expectations of $119.17 million. Chindata Group had a return on equity of 3.18% and a net margin of 11.11%. During the same period in the prior year, the firm earned ($0.01) EPS. On average, research analysts anticipate that Chindata Group will post 0.27 earnings per share for the current year.

Chindata Group Company Profile (Get Rating)

Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in 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.

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