Chindata Group (NASDAQ:CD) Stock Rating Lowered by Zacks Investment Research

Chindata Group (NASDAQ:CDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Chindata Group Holdings Limited provides carrier-neutral hyperscale data center solution. The company focuses on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. It operates principally in China, India and Southeast Asia markets. Chindata Group Holdings Limited is based in BEIJING. “

Separately, Credit Suisse Group raised shares of Chindata Group from a “neutral” rating to an “outperform” rating and set a $8.30 price objective for the company in a research note on Monday, March 7th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.27.

Shares of CD stock traded up $0.12 during mid-day trading on Friday, reaching $7.24. The stock had a trading volume of 2,445,860 shares, compared to its average volume of 2,280,912. The stock’s 50-day moving average price is $6.14 and its two-hundred day moving average price is $6.30. Chindata Group has a 52-week low of $3.75 and a 52-week high of $17.18. The firm has a market capitalization of $2.65 billion, a PE ratio of 51.72 and a beta of 1.77. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.35.

Chindata Group (NASDAQ:CDGet Rating) last issued its earnings results on Thursday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $122.67 million for the quarter, compared to the consensus estimate of $119.17 million. Chindata Group had a net margin of 11.11% and a return on equity of 3.18%. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts forecast that Chindata Group will post 0.26 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Chindata Group by 713.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,103,246 shares of the company’s stock worth $33,630,000 after acquiring an additional 4,475,542 shares in the last quarter. Sylebra Capital Ltd boosted its position in Chindata Group by 76.6% in the 3rd quarter. Sylebra Capital Ltd now owns 7,205,162 shares of the company’s stock valued at $60,595,000 after buying an additional 3,124,291 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Chindata Group by 48.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,683,390 shares of the company’s stock worth $57,224,000 after purchasing an additional 2,838,453 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Chindata Group by 310.3% during the 3rd quarter. Marshall Wace LLP now owns 3,177,564 shares of the company’s stock worth $26,723,000 after purchasing an additional 2,403,120 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Chindata Group by 2,986.4% during the 3rd quarter. Hsbc Holdings PLC now owns 2,194,480 shares of the company’s stock worth $18,555,000 after acquiring an additional 2,123,378 shares in the last quarter. 19.89% of the stock is currently owned by institutional investors and hedge funds.

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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