GDS (NASDAQ:GDS) Stock Price Down 5.5% – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS)’s share price fell 5.5% during mid-day trading on Wednesday . The stock traded as low as $21.67 and last traded at $21.60. 169,349 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,628,168 shares. The stock had previously closed at $22.86.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price target on shares of GDS in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Trading Up 7.3 %

The company has a 50 day simple moving average of $21.52 and a 200 day simple moving average of $18.59. The stock has a market capitalization of $4.34 billion, a PE ratio of -7.47 and a beta of 0.13. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25.

Hedge Funds Weigh In On GDS

Large investors have recently bought and sold shares of the company. Bamco Inc. NY boosted its holdings in shares of GDS by 128.6% in the third quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after acquiring an additional 3,397,592 shares in the last quarter. Sachem Head Capital Management LP lifted its position in GDS by 161.6% in 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 period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in GDS in the 3rd quarter valued at approximately $27,212,000. Portolan Capital Management LLC purchased a new stake in GDS in the 3rd quarter valued at approximately $26,572,000. Finally, JPMorgan Chase & Co. increased its position in GDS by 7,553.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock worth $12,461,000 after purchasing an additional 602,840 shares during the period. 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.