GDS Holdings Limited (NASDAQ:GDS) Short Interest Down 11.0% in November

GDS Holdings Limited (NASDAQ:GDS) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 5,000,000 shares, a decline of 11.0% from the October 31st total of 5,620,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On GDS

Several large investors have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its position 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 buying an additional 3,397,592 shares during the period. Baupost Group LLC MA lifted its position 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. Sachem Head Capital Management LP lifted its position in 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 during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GDS during the third quarter worth about $27,212,000. Finally, Portolan Capital Management LLC purchased a new position in GDS during the third quarter worth about $26,572,000. 33.71% of the stock is currently owned by hedge funds and other institutional investors.

GDS Stock Up 3.1 %

NASDAQ GDS traded up $0.61 during trading hours on Tuesday, hitting $20.41. 1,078,282 shares of the company’s stock were exchanged, compared to its average volume of 1,600,318. The business’s 50 day moving average is $21.20 and its 200-day moving average is $15.21. GDS has a 12-month low of $5.01 and a 12-month high of $24.74. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Nomura Securities raised GDS to a “strong-buy” rating in a report on Monday, August 26th. Bank of America upped their price objective on GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price objective on GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.47.

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.