GDS (NASDAQ:GDS) Shares Down 6.2% – Here’s Why

GDS Holdings (NASDAQ:GDS)’s stock price traded down 6.2% during trading on Friday . The company traded as low as $40.92 and last traded at $41.8050. 599,735 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,449,281 shares. The stock had previously closed at $44.55.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GDS shares. Weiss Ratings reissued a “hold (c)” rating on shares of GDS in a report on Monday, December 29th. TD Cowen lowered their price objective on GDS from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GDS in a report on Tuesday, January 13th. Morgan Stanley reiterated an “overweight” rating and issued a $64.00 target price on shares of GDS in a research note on Tuesday. Finally, UBS Group set a $55.00 price target on shares of GDS in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.90.

GDS Stock Down 7.4%

The company has a current ratio of 2.60, a quick ratio of 2.51 and a debt-to-equity ratio of 1.60. The firm has a market cap of $8.02 billion, a P/E ratio of 79.21 and a beta of 0.39. The stock’s fifty day moving average is $43.49 and its two-hundred day moving average is $38.21.

Institutional Investors Weigh In On GDS

Several large investors have recently added to or reduced their stakes in the business. AI Squared Management Ltd boosted its position in shares of GDS by 793.5% during the 3rd quarter. AI Squared Management Ltd now owns 98,280 shares of the company’s stock valued at $3,803,000 after acquiring an additional 87,280 shares during the last quarter. Light Street Capital Management LLC bought a new position in shares of GDS in the second quarter worth approximately $21,845,000. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in GDS in the second quarter valued at approximately $1,681,000. Summit Global Investments purchased a new stake in GDS in the second quarter valued at approximately $350,000. Finally, Aspex Management HK Ltd lifted its position in GDS by 46.4% during the second quarter. Aspex Management HK Ltd now owns 4,406,949 shares of the company’s stock valued at $134,720,000 after purchasing an additional 1,397,073 shares during the last quarter. Institutional investors own 33.71% of the company’s stock.

About GDS

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.