GDS (NASDAQ:GDS) Trading Down 7.8% – Here’s Why

Shares of GDS Holdings Limited (NASDAQ:GDS) traded down 7.8% on Thursday . The company traded as low as $37.50 and last traded at $36.97. 534,926 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,249,559 shares. The stock had previously closed at $40.09.

Analyst Ratings Changes

Several equities research analysts have weighed in on GDS shares. StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Daiwa Capital Markets raised GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada lowered GDS from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $26.00 to $37.00 in a report on Tuesday. JMP Securities started coverage on shares of GDS in a research note on Monday, January 27th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Citizens Jmp raised GDS to a “strong-buy” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, GDS has an average rating of “Moderate Buy” and a consensus price target of $33.23.

GDS Price Performance

The stock has a market cap of $7.23 billion, a PE ratio of -12.44 and a beta of 0.12. 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 business has a fifty day moving average of $27.36 and a 200 day moving average of $22.16.

Institutional Trading of GDS

Several hedge funds have recently made changes to their positions in GDS. Blue Trust Inc. raised its holdings in GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after purchasing an additional 2,353 shares in the last quarter. abrdn plc increased its position in GDS by 11.3% during the third quarter. abrdn plc now owns 265,500 shares of the company’s stock worth $5,416,000 after buying an additional 26,900 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of GDS in the third quarter valued at approximately $544,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in GDS during the 3rd quarter valued at approximately $544,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in GDS in the 3rd quarter worth $245,000. Institutional investors 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.