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Short Interest in Chindata Group Holdings Limited (NASDAQ:CD) Declines By 18.1% – MarketBeat

Written by Amanda

Short Interest in Chindata Group Holdings Limited (NASDAQ:CD) Declines By 18.1%  MarketBeat

Chindata Group Holdings Limited (NASDAQ:CDGet Rating) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 7,510,000 shares, a decline of 18.1% from the May 15th total of 9,170,000 shares. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is presently 2.5 days.

NASDAQ:CD opened at $7.22 on Thursday. Chindata Group has a 12-month low of $3.75 and a 12-month high of $16.11. The firm has a market capitalization of $2.64 billion, a P/E ratio of 45.13 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day simple moving average of $6.23 and a 200 day simple moving average of $6.06.

Separately, Credit Suisse Group upgraded Chindata Group from a “neutral” rating to an “outperform” rating and set a $8.30 price objective for the company in a research report on Monday, March 7th.

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new position in Chindata Group during the 1st quarter worth $25,000. PNC Financial Services Group Inc. boosted its position in Chindata Group by 116.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company’s stock worth $42,000 after acquiring an additional 3,616 shares during the period. Macquarie Group Ltd. acquired a new position in Chindata Group during the 3rd quarter worth $45,000. Mercer Global Advisors Inc. ADV acquired a new position in Chindata Group during the 1st quarter worth $66,000. Finally, Beaumont Financial Partners LLC acquired a new position in Chindata Group during the 1st quarter worth $84,000. Institutional investors and hedge funds own 19.89% of the company’s stock.

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Chindata Group Company Profile (Get Rating)

Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, Malaysia, 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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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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