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

GDS Holdings Limited (NASDAQ:GDS) shares gapped down prior to trading on Monday . The stock had previously closed at $19.80, but opened at $19.15. GDS shares last traded at $19.61, with a volume of 44,933 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on GDS shares. Bank of America increased their target price on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of GDS in a report on Thursday, December 5th. Finally, Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.47.

GDS Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25. The stock has a market cap of $3.76 billion, a P/E ratio of -6.47 and a beta of 0.18. The firm’s 50-day moving average is $20.94 and its two-hundred day moving average is $16.34.

Hedge Funds Weigh In On GDS

Institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY boosted its stake in shares of GDS by 128.6% during the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after acquiring an additional 3,397,592 shares in the last quarter. Baupost Group LLC MA boosted its position in GDS by 63.5% during the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares during the period. Sachem Head Capital Management LP grew its holdings in GDS by 161.6% during the third 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. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of GDS in the third quarter valued at approximately $27,212,000. Finally, Portolan Capital Management LLC acquired a new stake in shares of GDS in the third quarter worth $26,572,000. 33.71% of the stock is currently owned by 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.