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

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped down before the market opened on Monday . The stock had previously closed at $44.76, but opened at $40.41. GDS shares last traded at $38.23, with a volume of 2,985,563 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GDS shares. Daiwa Capital Markets raised shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada cut GDS from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $26.00 to $37.00 in a research note on Tuesday. StockNews.com raised GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Jefferies Financial Group downgraded shares of GDS from a “buy” rating to a “hold” rating and increased their target price for the company from $27.06 to $45.00 in a research report on Monday. Finally, Raymond James boosted their price target on shares of GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, GDS currently has an average rating of “Moderate Buy” and an average price target of $33.23.

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 company’s 50 day moving average is $26.94 and its 200-day moving average is $22.03. The firm has a market capitalization of $7.54 billion, a P/E ratio of -12.91 and a beta of 0.12.

Institutional Trading of GDS

Several institutional investors and hedge funds have recently made changes to their positions in GDS. Blue Trust Inc. boosted its holdings in GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after purchasing an additional 2,353 shares during the last quarter. abrdn plc lifted its position in shares of GDS by 11.3% during the 3rd quarter. abrdn plc now owns 265,500 shares of the company’s stock worth $5,416,000 after buying an additional 26,900 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of GDS in the 3rd quarter worth approximately $544,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of GDS in the third quarter valued at approximately $544,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in GDS during the third quarter worth $245,000. 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.