GDS (NASDAQ:GDS) Shares Gap Down to $21.53

GDS Holdings Limited (NASDAQ:GDS) gapped down prior to trading on Wednesday . The stock had previously closed at $21.53, but opened at $19.69. GDS shares last traded at $19.58, with a volume of 374,953 shares.

Analysts Set New Price Targets

GDS has been the topic of several analyst reports. Nomura Securities raised GDS to a “strong-buy” rating in a research report on Monday, August 26th. Bank of America lifted their price objective on shares of 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 upgraded shares of GDS from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $13.00 to $14.00 in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.29.

GDS Price Performance

The business has a fifty day moving average price of $14.32 and a 200 day moving average price of $10.50. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -6.22 and a beta of 0.24.

GDS (NASDAQ:GDS) last released its earnings results on Wednesday, August 21st. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.07. The firm had revenue of $388.92 million for the quarter, compared to analysts’ expectations of $384.14 million. GDS had a negative net margin of 39.96% and a negative return on equity of 9.10%. On average, research analysts expect that GDS Holdings Limited will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of GDS

Several institutional investors have recently modified their holdings of the company. Creative Planning grew its holdings in GDS by 10.3% during the second quarter. Creative Planning now owns 99,850 shares of the company’s stock worth $928,000 after acquiring an additional 9,332 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of GDS by 921.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 112,568 shares of the company’s stock worth $1,046,000 after purchasing an additional 126,268 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of GDS in the 2nd quarter worth approximately $203,000. Farallon Capital Management LLC lifted its stake in GDS by 72.7% during the second quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock valued at $11,391,000 after purchasing an additional 516,133 shares during the last quarter. Finally, Baupost Group LLC MA boosted its holdings 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 in the last quarter. Institutional investors and hedge funds 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.