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

GDS Holdings Limited (NASDAQ:GDS)’s stock price was down 7.4% on Thursday . The stock 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 Upgrades and Downgrades

Several analysts recently weighed in on GDS shares. StockNews.com cut shares of GDS from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Jefferies Financial Group cut shares of GDS from a “buy” rating to a “hold” rating and lifted their price target for the company from $27.06 to $45.00 in a report on Monday, February 24th. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. JMP Securities started coverage on shares of GDS in a report on Monday, January 27th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.23.

GDS Trading Up 5.2 %

The firm has a 50-day moving average price of $30.91 and a 200-day moving average price of $24.00. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $6.72 billion, a PE ratio of -11.56 and a beta of 0.07.

Hedge Funds Weigh In On GDS

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