GDS (NASDAQ:GDS) Stock Price Down 4.2% – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS) traded down 4.2% on Thursday . The stock traded as low as $29.00 and last traded at $29.33. 988,987 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 1,917,702 shares. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GDS shares. Raymond James upgraded GDS from an “outperform” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Thursday. StockNews.com lowered shares of GDS from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. JMP Securities initiated coverage on GDS in a report on Monday, January 27th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group upgraded GDS from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, GDS has an average rating of “Moderate Buy” and a consensus price target of $33.23.

GDS Trading Down 6.2 %

The business’s 50-day moving average price is $31.33 and its 200 day moving average price is $24.41. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -9.41 and a beta of 0.06. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bamco Inc. NY increased its position in shares of GDS by 128.6% in the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after purchasing an additional 3,397,592 shares during the last quarter. American Century Companies Inc. increased its position in GDS by 509.6% in the fourth quarter. American Century Companies Inc. now owns 2,323,482 shares of the company’s stock worth $55,206,000 after buying an additional 1,942,341 shares during the period. Triata Capital Ltd acquired a new position in GDS during the 4th quarter valued at about $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 acquiring an additional 1,745,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in GDS in the 3rd quarter valued at about $27,212,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

GDS Company Profile

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.