GDS (NASDAQ:GDS) Shares Gap Down - Here's What Happened

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 $38.78, but opened at $37.88. GDS shares last traded at $35.39, with a volume of 945,397 shares traded.

Analyst Ratings Changes

GDS has been the topic of a number of recent analyst reports. Daiwa Capital Markets raised shares of GDS from a "neutral" rating to a "buy" rating in a research report on Tuesday, February 11th. Citizens Jmp raised shares of GDS to a "strong-buy" rating in a research report on Monday, January 27th. Jefferies Financial Group downgraded GDS from a "buy" rating to a "hold" rating and raised their price target for the company from $27.06 to $45.00 in a research report on Monday, February 24th. Royal Bank of Canada downgraded GDS from an "outperform" rating to a "sector perform" rating and increased their target price for the company from $26.00 to $37.00 in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded GDS from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.23.

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GDS Price Performance

The company has a market cap of $6.76 billion, a price-to-earnings ratio of -11.60 and a beta of 0.07. 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 company has a fifty day moving average price of $30.24 and a two-hundred day moving average price of $23.73.

Hedge Funds Weigh In On GDS

A number of hedge funds and other institutional investors have recently made changes to their positions in GDS. Bamco Inc. NY lifted its stake in GDS by 128.6% during the third quarter. Bamco Inc. NY now owns 6,040,555 shares of the company's stock worth $123,227,000 after purchasing an additional 3,397,592 shares during the period. American Century Companies Inc. lifted its position in shares of GDS by 509.6% during the 4th quarter. American Century Companies Inc. now owns 2,323,482 shares of the company's stock worth $55,206,000 after buying an additional 1,942,341 shares during the period. Triata Capital Ltd acquired a new stake in GDS in the 4th quarter valued at $41,472,000. Sachem Head Capital Management LP grew 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 acquiring an additional 1,745,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in GDS during the third quarter worth $27,212,000. 33.71% of the stock is owned by institutional investors.

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.

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