Chindata Group Holdings Limited (NASDAQ:CD – Get Rating) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 3,940,000 shares, an increase of 14.5% from the August 31st total of 3,440,000 shares. Based on an average daily trading volume, of 2,230,000 shares, the days-to-cover ratio is currently 1.8 days.
Analysts Set New Price Targets
Separately, TheStreet upgraded shares of Chindata Group from a "d+" rating to a "c-" rating in a report on Friday, September 9th.
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Chindata Group Stock Down 2.6 %
Shares of CD traded down $0.21 during midday trading on Monday, reaching $7.87. The stock had a trading volume of 35,040 shares, compared to its average volume of 2,345,187. Chindata Group has a 1-year low of $3.75 and a 1-year high of $10.69. The company's fifty day simple moving average is $7.82 and its two-hundred day simple moving average is $7.09. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 36.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.50 and a quick ratio of 2.50.
Institutional Investors Weigh In On Chindata Group
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in Chindata Group during the 1st quarter worth $25,000. PNC Financial Services Group Inc. raised its stake 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 in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Chindata Group during the 1st quarter worth $66,000. Beaumont Financial Partners LLC acquired a new stake in Chindata Group during the 1st quarter worth $84,000. Finally, Prelude Capital Management LLC acquired a new stake in Chindata Group during the 2nd quarter worth $96,000. 22.71% of the stock is currently owned by institutional investors and hedge funds.
About Chindata Group
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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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