GDS (NASDAQ:GDS) Stock Price Down 7.4% – Here’s Why

Shares of GDS Holdings Limited (NASDAQ:GDS) fell 7.4% during mid-day trading on Thursday . The company traded as low as $33.01 and last traded at $32.85. 442,544 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,871,601 shares. The stock had previously closed at $35.46.

Analyst Upgrades and Downgrades

GDS has been the topic of several research analyst reports. Royal Bank of Canada lowered shares of GDS from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $26.00 to $37.00 in a research note on Tuesday, February 25th. Citizens Jmp raised shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Raymond James upped their price objective on GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. JMP Securities began coverage on GDS in a report on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.23.

GDS Trading Down 3.4 %

The business’s 50 day simple moving average is $30.48 and its 200-day simple moving average is $23.81. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $6.53 billion, a P/E ratio of -11.21 and a beta of 0.07.

Institutional Investors Weigh In On GDS

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amiral Gestion acquired a new stake in shares of GDS in the 4th quarter valued at approximately $333,000. Voloridge Investment Management LLC raised its position in GDS by 36.9% during the fourth quarter. Voloridge Investment Management LLC now owns 521,171 shares of the company’s stock worth $12,383,000 after acquiring an additional 140,343 shares in the last quarter. Woodline Partners LP acquired a new stake in GDS in the fourth quarter valued at $4,877,000. Vident Advisory LLC grew its position in shares of GDS by 23.9% in the 4th quarter. Vident Advisory LLC now owns 24,390 shares of the company’s stock valued at $580,000 after acquiring an additional 4,710 shares during the period. Finally, Triata Capital Ltd acquired a new position in shares of GDS during the 4th quarter worth about $41,472,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

About GDS

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.