GDS Holdings Limited (NASDAQ:GDS – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $8.41, but opened at $8.04. GDS shares last traded at $8.20, with a volume of 778,301 shares traded.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group raised their price target on GDS from $17.22 to $17.75 and gave the stock a “buy” rating in a report on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.94.
GDS Price Performance
The stock has a fifty day moving average of $6.52 and a 200 day moving average of $9.02. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -7.49 and a beta of 0.41.
Institutional Trading of GDS
Several large investors have recently made changes to their positions in the business. Cerity Partners LLC purchased a new position in GDS during the fourth quarter valued at approximately $13,928,000. Goldman Sachs Group Inc. grew its position in GDS by 68.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,722,047 shares of the company’s stock valued at $146,090,000 after buying an additional 1,507,914 shares during the period. Bank of America Corp DE grew its position in GDS by 366.6% during the fourth quarter. Bank of America Corp DE now owns 1,562,795 shares of the company’s stock valued at $32,225,000 after buying an additional 1,227,878 shares during the period. Pacer Advisors Inc. purchased a new position in GDS in the fourth quarter valued at $6,952,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of GDS by 76.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,630,386 shares of the company’s stock worth $17,853,000 after acquiring an additional 707,149 shares during the period. 33.71% of the stock is owned by hedge funds and other institutional investors.
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.