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

GDS Holdings Limited (NASDAQ:GDS - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $38.05, but opened at $36.22. GDS shares last traded at $32.55, with a volume of 2,297,608 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GDS shares. StockNews.com lowered GDS from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Jefferies Financial Group lowered GDS from a "buy" rating to a "hold" rating and lifted their price target for the company from $27.06 to $45.00 in a report on Monday, February 24th. Royal Bank of Canada lowered GDS from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $26.00 to $37.00 in a report on Tuesday, February 25th. Raymond James boosted their target price on GDS from $25.00 to $53.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Daiwa Capital Markets upgraded GDS from a "neutral" rating to a "buy" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.23.

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GDS Trading Down 5.6 %

The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The company has a 50-day simple moving average of $29.68 and a 200 day simple moving average of $23.37. The company has a market capitalization of $6.93 billion, a P/E ratio of -11.92 and a beta of 0.07.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GDS. GSA Capital Partners LLP bought a new position in GDS in the 3rd quarter worth approximately $544,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of GDS during the third quarter valued at approximately $544,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of GDS during the third quarter valued at approximately $245,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of GDS during the third quarter valued at approximately $1,001,000. Finally, Swedbank AB increased its position in shares of GDS by 3.7% during the third quarter. Swedbank AB now owns 338,974 shares of the company's stock valued at $6,915,000 after purchasing an additional 12,100 shares during the period. 33.71% of the stock is owned by institutional investors.

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.