GDS (NASDAQ:GDS) Stock Price Down 7.4% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS)’s share price was down 7.4% during mid-day trading on Thursday . The company traded as low as $33.01 and last traded at $32.85. Approximately 442,544 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,871,601 shares. The stock had previously closed at $35.46.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GDS shares. Jefferies Financial Group downgraded shares of GDS from a “buy” rating to a “hold” rating and increased their price target for the stock from $27.06 to $45.00 in a report on Monday, February 24th. Raymond James increased their price target on shares of GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. 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 target price on the stock. Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, GDS has an average rating of “Moderate Buy” and a consensus target price of $33.23.

GDS Price Performance

The stock has a market capitalization of $6.72 billion, a PE ratio of -11.56 and a beta of 0.07. The firm’s 50 day simple moving average is $30.91 and its 200 day simple moving average is $24.00. 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

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in shares of GDS during the third quarter worth approximately $64,000. PNC Financial Services Group Inc. grew its holdings in shares of GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of GDS by 1,904.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock worth $90,000 after purchasing an additional 3,599 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of GDS by 121.9% in the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after purchasing an additional 3,053 shares during the last quarter. Finally, Brookfield Corp ON bought a new position in shares of GDS in the third quarter worth approximately $171,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

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.