Chindata Group (NASDAQ:CD) Trading Down 5.5% – Here’s What Happened

Chindata Group Holdings Limited (NASDAQ:CD)’s stock price was down 5.5% during trading on Thursday . The stock traded as low as $4.18 and last traded at $4.31. Approximately 96,652 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 135,890 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

Several equities analysts recently commented on CD shares. Wall Street Zen raised Chindata Group from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chindata Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Chindata Group Stock Performance

The company’s 50 day moving average is $4.89 and its 200 day moving average is $6.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Chindata Group during the 4th quarter worth $27,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Chindata Group during the 4th quarter worth $45,000. New York State Common Retirement Fund purchased a new position in Chindata Group during the 4th quarter worth $51,000. The Manufacturers Life Insurance Company purchased a new position in Chindata Group during the 4th quarter worth $57,000. Finally, MetLife Investment Management LLC purchased a new position in Chindata Group during the 4th quarter worth $76,000. 30.82% of the stock is owned by hedge funds and other 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.