Chindata Group Holdings Limited (NASDAQ:CD – Get Rating) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,410,000 shares, a decrease of 20.7% from the November 15th total of 4,300,000 shares. Based on an average trading volume of 2,170,000 shares, the short-interest ratio is presently 1.6 days.
Institutional Trading of Chindata Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in shares of Chindata Group by 27.4% in the first quarter. Canada Pension Plan Investment Board now owns 11,058,874 shares of the company’s stock valued at $69,892,000 after purchasing an additional 2,375,484 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Chindata Group in the third quarter valued at about $73,731,000. MY.Alpha Management HK Advisors Ltd boosted its position in Chindata Group by 34.1% during the third quarter. MY.Alpha Management HK Advisors Ltd now owns 7,809,556 shares of the company’s stock worth $63,101,000 after acquiring an additional 1,985,521 shares during the last quarter. Sylebra Capital Ltd boosted its position in Chindata Group by 1.4% during the second quarter. Sylebra Capital Ltd now owns 7,208,216 shares of the company’s stock worth $55,936,000 after acquiring an additional 96,224 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Chindata Group by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,382,133 shares of the company’s stock worth $34,015,000 after acquiring an additional 278,887 shares during the last quarter. Institutional investors and hedge funds own 22.71% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on CD shares. Citigroup decreased their target price on shares of Chindata Group from $9.30 to $8.90 in a research report on Wednesday, November 23rd. TheStreet cut shares of Chindata Group from a “c-” rating to a “d+” rating in a research report on Friday, October 28th.
Chindata Group Stock Performance
CD stock traded up $0.01 during midday trading on Friday, hitting $7.73. 13,073 shares of the stock traded hands, compared to its average volume of 2,250,319. The firm has a market cap of $2.83 billion, a P/E ratio of 27.57 and a beta of 0.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.18 and a quick ratio of 2.18. The stock’s fifty day simple moving average is $6.75 and its 200-day simple moving average is $7.33. Chindata Group has a 1-year low of $3.75 and a 1-year high of $9.08.
About Chindata Group
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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