GDS (NASDAQ:GDS) Shares Down 5.5% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS) was down 5.5% during trading on Wednesday . The stock traded as low as $21.67 and last traded at $21.60. Approximately 169,349 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,628,168 shares. The stock had previously closed at $22.86.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price target on shares of GDS in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Trading Down 9.6 %

The business has a 50-day moving average of $21.60 and a 200-day moving average of $18.57. 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 market cap of $3.94 billion, a price-to-earnings ratio of -6.81 and a beta of 0.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in GDS by 7,553.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of GDS during the 3rd quarter worth approximately $27,212,000. Farallon Capital Management LLC increased its holdings in shares of GDS by 72.7% during the 2nd quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock worth $11,391,000 after acquiring an additional 516,133 shares during the last quarter. Luxor Capital Group LP bought a new stake in GDS in the 3rd quarter valued at $9,993,000. Finally, GSA Capital Partners LLP bought a new stake in GDS in the 3rd quarter valued at $544,000. 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.