GDS (NASDAQ:GDS) Shares Down 7.7% – Time to Sell?

GDS Holdings Limited (NASDAQ:GDS)’s share price dropped 7.7% during trading on Friday . The company traded as low as $26.53 and last traded at $26.61. Approximately 325,741 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,354,735 shares. The stock had previously closed at $28.84.

Analyst Upgrades and Downgrades

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

GDS Stock Down 7.2 %

The company has a market cap of $5.10 billion, a price-to-earnings ratio of -8.77 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. The business has a fifty day moving average of $21.58 and a two-hundred day moving average of $17.89.

Hedge Funds Weigh In On GDS

A number of large investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY lifted its holdings in GDS by 128.6% in the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after purchasing an additional 3,397,592 shares in the last quarter. Sachem Head Capital Management LP grew its holdings in shares of GDS by 161.6% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after purchasing an additional 1,745,000 shares during the period. Baupost Group LLC MA boosted its stake in GDS by 63.5% during the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after buying an additional 1,649,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in GDS in the 3rd quarter valued at approximately $27,212,000. Finally, Portolan Capital Management LLC acquired a new stake in shares of GDS in the third quarter valued at $26,572,000. 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.