GDS (NASDAQ:GDS) Shares Gap Down – Here’s Why

GDS Holdings Limited (NASDAQ:GDS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.58, but opened at $29.92. GDS shares last traded at $31.61, with a volume of 2,439,081 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on GDS. Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada downgraded shares of GDS from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $26.00 to $37.00 in a research report on Tuesday, February 25th. Jefferies Financial Group raised shares of GDS from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday. StockNews.com downgraded shares of GDS from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GDS has a consensus rating of “Moderate Buy” and an average price target of $33.23.

GDS Trading Down 17.8 %

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The company’s fifty day moving average is $31.29 and its 200-day moving average is $24.37. The firm has a market capitalization of $5.57 billion, a P/E ratio of -9.61 and a beta of 0.06.

Hedge Funds Weigh In On GDS

Several large investors have recently bought and sold shares of GDS. Bamco Inc. NY raised 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 last quarter. American Century Companies Inc. raised its stake in GDS by 509.6% during the 4th quarter. American Century Companies Inc. now owns 2,323,482 shares of the company’s stock valued at $55,206,000 after purchasing an additional 1,942,341 shares during the last quarter. Triata Capital Ltd acquired a new position in GDS during the 4th quarter valued at $41,472,000. Sachem Head Capital Management LP raised its stake in GDS by 161.6% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock valued at $57,630,000 after purchasing an additional 1,745,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in GDS during the 3rd quarter valued at $27,212,000. 33.71% of the stock is currently 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.