GDS (NASDAQ:GDS) Shares Down 4.2% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS)’s stock price dropped 4.2% on Thursday . The company traded as low as $29.00 and last traded at $29.33. Approximately 988,987 shares changed hands during trading, a decline of 48% from the average daily volume of 1,917,702 shares. The stock had previously closed at $30.61.

Analyst Ratings Changes

A number of research firms recently commented on GDS. Royal Bank of Canada lowered 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 report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of GDS from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday. StockNews.com downgraded GDS from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Citizens Jmp upgraded GDS to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Raymond James upgraded shares of GDS from an “outperform” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.23.

GDS Trading Down 6.2 %

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 stock has a market cap of $5.47 billion, a PE ratio of -9.41 and a beta of 0.06. The company’s fifty day moving average is $31.33 and its 200-day moving average is $24.41.

Institutional Investors Weigh In On GDS

Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of GDS in the 3rd quarter valued at $64,000. PNC Financial Services Group Inc. increased its position in GDS by 26.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock worth $75,000 after buying an additional 672 shares during the period. Wells Fargo & Company MN grew its position in shares of GDS by 1,904.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock worth $90,000 after acquiring an additional 3,599 shares during the last quarter. Blue Trust Inc. raised its position in GDS by 121.9% in the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after purchasing an additional 3,053 shares during the last quarter. Finally, Brookfield Corp ON purchased a new position in GDS during the 3rd quarter worth $171,000. Hedge funds and other 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.