GDS (NASDAQ:GDS) Shares Gap Down – Here’s What Happened

GDS Holdings (NASDAQ:GDS) gapped down before the market opened on Tuesday . The stock had previously closed at $44.00, but opened at $42.46. GDS shares last traded at $42.5810, with a volume of 657,589 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on GDS shares. UBS Group set a $55.00 target price on GDS in a research report on Monday, December 1st. TD Cowen reduced their price objective on GDS from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Macquarie set a $46.70 target price on GDS in a research report on Thursday, November 6th. Raymond James Financial reiterated a “strong-buy” rating on shares of GDS in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GDS in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, GDS presently has a consensus rating of “Moderate Buy” and an average target price of $46.70.

GDS Price Performance

The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average of $34.64 and a 200 day moving average of $35.16. The firm has a market capitalization of $7.81 billion, a PE ratio of 10.66 and a beta of 0.34.

GDS (NASDAQ:GDS) last posted its earnings results on Wednesday, November 19th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.51. The firm had revenue of $405.28 million during the quarter, compared to analyst estimates of $402.81 million. GDS had a net margin of 49.60% and a return on equity of 5.17%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) EPS. As a group, research analysts anticipate that GDS Holdings will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On GDS

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of GDS by 2.4% in the third quarter. Farther Finance Advisors LLC now owns 15,111 shares of the company’s stock valued at $585,000 after acquiring an additional 352 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in GDS by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,388 shares of the company’s stock worth $390,000 after acquiring an additional 388 shares during the period. EverSource Wealth Advisors LLC boosted its position in GDS by 41.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,806 shares of the company’s stock worth $55,000 after purchasing an additional 531 shares during the last quarter. Assetmark Inc. grew its stake in GDS by 1,123.2% in the 3rd quarter. Assetmark Inc. now owns 685 shares of the company’s stock valued at $27,000 after purchasing an additional 629 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in GDS by 4.2% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,787 shares of the company’s stock valued at $611,000 after purchasing an additional 636 shares during the period. Institutional investors own 33.71% of the company’s stock.

GDS Company Profile

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.