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

by · The Cerbat Gem

GDS Holdings Limited (NASDAQ:GDS – Get Free Report)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $35.58, but opened at $29.92. GDS shares last traded at $31.61, with a volume of 2,439,081 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GDS. 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 downgraded shares of GDS from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $26.00 to $37.00 in a research note on Tuesday, February 25th. Jefferies Financial Group raised 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. Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Raymond James boosted their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.23.

Read Our Latest Research Report on GDS

GDS Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The business’s fifty day moving average is $31.29 and its 200 day moving average is $24.37. The firm has a market capitalization of $5.57 billion, a P/E ratio of -9.61 and a beta of 0.06.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently made changes to their positions in GDS. Alberta Investment Management Corp acquired a new stake in shares of GDS during the fourth quarter valued at approximately $4,935,000. JPMorgan Chase & Co. raised its holdings in shares of GDS by 7,553.4% during the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after acquiring an additional 602,840 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of GDS by 165.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 54,127 shares of the company’s stock valued at $1,286,000 after acquiring an additional 33,741 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GDS during the third quarter valued at approximately $27,212,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of GDS during the fourth quarter valued at approximately $1,938,000. 33.71% of the stock is currently owned by institutional investors.

About GDS

(Get Free Report)

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.

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