GDS (NASDAQ:GDS) Shares Down 4.5% – Here’s What Happened

Shares of GDS Holdings Limited (NASDAQ:GDS) dropped 4.5% on Friday . The stock traded as low as $21.86 and last traded at $22.02. Approximately 151,046 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,872,014 shares. The stock had previously closed at $23.05.

Wall Street Analyst Weigh In

GDS has been the subject of a number of recent research reports. StockNews.com raised GDS from a “sell” rating to a “hold” rating in a research note on Tuesday. JMP Securities started coverage on shares of GDS in a research note on Monday. They issued an “outperform” rating and a $35.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of GDS in a research note on Wednesday. Finally, Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GDS has a consensus rating of “Buy” and an average target price of $22.60.

GDS Stock Performance

The company has a market cap of $4.21 billion, a price-to-earnings ratio of -7.26 and a beta of 0.13. 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 firm has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $18.96.

Institutional Investors Weigh In On GDS

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bamco Inc. NY boosted its stake in GDS by 128.6% during the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after purchasing an additional 3,397,592 shares during the period. Sachem Head Capital Management LP grew its stake in shares of GDS by 161.6% in the third quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after acquiring an additional 1,745,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in GDS during the third quarter worth $27,212,000. Portolan Capital Management LLC acquired a new position in GDS during the 3rd quarter valued at $26,572,000. Finally, Pacer Advisors Inc. boosted its holdings in GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock valued at $21,360,000 after purchasing an additional 188,072 shares during the period. 33.71% of the stock is owned by institutional investors and hedge funds.

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.