Chindata Group Holdings Limited (NASDAQ: CD) Is Getting Increasingly Hard To Ignore

MY.Alpha Management recently announced the acquisition of new stake in Chindata Group Holdings Limited (NASDAQ:CD). The institutional investor has increased its shareholding in the Technology company by 2.40% to 10.5 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 5.62% valued currently at $66.27 million. In addition, The Vanguard Group, Inc. raised its holdings by 93286.0 to 7.61 million shares. And Snow Lake Capital has lifted its position by 10.53% or 0.4 million shares – to 4.2 million shares.

With over 1.39 million Chindata Group Holdings Limited (CD) shares trading Tuesday and a closing price of $5.12 on the day, the dollar volume was approximately $7.12 million. The shares have shown a negative half year performance of -20.62% and its price on 05/23/23 lost nearly -3.12%. Currently, there are 358.37M common shares owned by the public and among those 92.02M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for CD have a consensus price objective of $79.23. The analysts have set the share’s price value over the next 12 months at a high of $100.05 and a low of $66.24. The average price target is 56.01% above its recent price level and an upside to the estimated low will see the stock gain 92.27% over that period. But an upside of 94.88% will see the stock hit the forecast high price target while median target price for the stock is $77.51.

The top 3 mutual fund holders in Chindata Group Holdings Limited are Canada Pension Plan, KraneShares CSI China Internet ET, and Vanguard Emerging Markets Stock I. Canada Pension Plan owns 11.06 million shares of the company’s stock, all valued at over $69.78 million. The company bought an additional 8.61 million shares recently to bring their total holdings to about 5.92% of the shares outstanding. KraneShares CSI China Internet ET sold 99552.0 shares to see its total holdings shrink to 5.37 million shares valued at over $33.91 million and representing 2.88% of the shares outstanding. Vanguard Emerging Markets Stock I now owns shares totaling to 1.82% of the shares outstanding.

Shares of Chindata Group Holdings Limited (NASDAQ: CD) opened at $5.12, down -$0.16 from a prior closing price of $5.28. However, the script later moved the day high at 5.31, down -3.12%. The company’s stock has a 5-day price change of -17.42% and -32.19% over the past three months. CD shares are trading -35.76% year to date (YTD), with the 12-month market performance down to -20.62% lower. It has a 12-month low price of $5.00 and touched a high of $9.21 over the same period. CD has an average intraday trading volume of 1.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.47%, -19.14%, and -29.60% respectively.

Institutional ownership of Chindata Group Holdings Limited (NASDAQ: CD) shares accounts for 48.70% of the company’s 358.37M shares outstanding. Mutual fund holders own 18.97%, while other institutional holders and individual stakeholders account for 25.72% and — respectively.

It has a market capitalization of $2.06B. The stock’s trailing 12-month PE ratio is 20.24, while the earnings-per-share (ttm) stands at $0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.25% over the week and 4.95% over the month.

The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”