Chindata Group Holdings Limited (NASDAQ:CD – Get Rating) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 6,580,000 shares, a decline of 23.0% from the March 15th total of 8,550,000 shares. Based on an average trading volume of 2,030,000 shares, the short-interest ratio is presently 3.2 days.
Hedge funds have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Chindata Group by 135.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 65,766 shares of the company’s stock valued at $376,000 after purchasing an additional 37,828 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Chindata Group by 8.1% in the first quarter. Pacer Advisors Inc. now owns 1,446,198 shares of the company’s stock valued at $9,140,000 after acquiring an additional 108,762 shares in the last quarter. Norges Bank purchased a new stake in shares of Chindata Group in the fourth quarter valued at about $2,570,000. BlackRock Inc. boosted its holdings in Chindata Group by 6.2% during the fourth quarter. BlackRock Inc. now owns 3,875,736 shares of the company’s stock worth $25,540,000 after buying an additional 227,753 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Chindata Group by 713.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,103,246 shares of the company’s stock worth $33,630,000 after buying an additional 4,475,542 shares in the last quarter. 16.17% of the stock is owned by institutional investors.
Several brokerages have commented on CD. Credit Suisse Group upgraded 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. Sanford C. Bernstein downgraded shares of Chindata Group from a “market perform” rating to an “underperform” rating in a report on Monday, January 17th. Morgan Stanley lowered shares of Chindata Group from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 7th. Finally, Zacks Investment Research lowered shares of Chindata Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.27.
Chindata Group (NASDAQ:CD – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. Chindata Group had a net margin of 11.11% and a return on equity of 3.18%. The firm had revenue of $122.67 million during the quarter, compared to analysts’ expectations of $119.17 million. During the same quarter last year, the company posted ($0.01) EPS. As a group, equities research analysts forecast that Chindata Group will post 0.2 earnings per share for the current fiscal 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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