GDS (NASDAQ:GDS) Stock Price Down 5.5% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS) shares dropped 5.5% on Wednesday . The company traded as low as $21.67 and last traded at $21.60. Approximately 169,349 shares changed hands during trading, a decline of 90% from the average daily volume of 1,628,168 shares. The stock had previously closed at $22.86.

Wall Street Analysts Forecast Growth

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

GDS Price Performance

The company has a fifty day moving average of $21.52 and a 200-day moving average of $18.59. 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 stock has a market cap of $4.34 billion, a PE ratio of -7.47 and a beta of 0.13.

Institutional Investors Weigh In On GDS

A number of hedge funds have recently added to or reduced their stakes in GDS. Bamco Inc. NY increased its position in shares of 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 acquiring an additional 3,397,592 shares during the period. Sachem Head Capital Management LP grew its position in shares of GDS by 161.6% during the third quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after buying an additional 1,745,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GDS in the third quarter worth approximately $27,212,000. Portolan Capital Management LLC purchased a new stake in shares of GDS in the 3rd quarter valued at approximately $26,572,000. Finally, Pacer Advisors Inc. raised its holdings in shares of GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock valued at $21,360,000 after purchasing an additional 188,072 shares in the last quarter. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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.