GDS (NASDAQ:GDS) Shares Down 7.8% – Time to Sell?

Shares of GDS Holdings Limited (NASDAQ:GDS) were down 7.8% during mid-day trading on Thursday . The company traded as low as $37.50 and last traded at $36.97. Approximately 534,926 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,249,559 shares. The stock had previously closed at $40.09.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GDS shares. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities started coverage on shares of GDS in a research note on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective on the stock. Jefferies Financial Group cut shares of GDS from a “buy” rating to a “hold” rating and lifted their price objective for the company from $27.06 to $45.00 in a research note on Monday, February 24th. Finally, StockNews.com lowered GDS from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.23.

GDS Price Performance

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 stock has a 50 day moving average of $28.10 and a two-hundred day moving average of $22.45. The stock has a market cap of $7.25 billion, a PE ratio of -12.48 and a beta of 0.12.

Hedge Funds Weigh In On GDS

Several institutional investors and hedge funds have recently bought and sold shares of GDS. Blue Trust Inc. grew its stake in GDS by 1,558.3% during the 3rd 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 in the last quarter. abrdn plc lifted its holdings in shares of GDS by 11.3% during the 3rd quarter. abrdn plc now owns 265,500 shares of the company’s stock valued at $5,416,000 after buying an additional 26,900 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of GDS during the 3rd quarter valued at about $544,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of GDS during the 3rd quarter valued at about $544,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of GDS during the 3rd quarter valued at about $245,000. 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.