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

GDS Holdings Limited (NASDAQ:GDS)’s share price gapped down before the market opened 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 changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on GDS shares. Nomura Securities raised GDS to a “strong-buy” rating in a report on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price target on shares of GDS in a research report on Thursday, December 5th. Finally, Bank of America increased their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.47.

GDS Stock Performance

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

Hedge Funds Weigh In On GDS

A number of institutional investors and hedge funds have recently bought and sold shares of GDS. Blue Trust Inc. increased its stake in shares of GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after acquiring an additional 2,353 shares during the period. Public Employees Retirement System of Ohio bought a new position in GDS during the 3rd quarter valued at $64,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of GDS during the 2nd quarter valued at $108,000. Signaturefd LLC raised its stake in shares of GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after buying an additional 1,215 shares in the last quarter. Finally, Brookfield Corp ON acquired a new stake in shares of GDS in the third quarter valued at $171,000. 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.