GDS (NASDAQ:GDS) Hits New 12-Month Low – Here’s What Happened

GDS Holdings (NASDAQ:GDS) shares reached a new 52-week low during trading on Thursday. The company traded as low as $25.18 and last traded at $25.86, with a volume of 4,836,296 shares traded. The stock had previously closed at $29.60.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDS. Wall Street Zen cut GDS from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of GDS in a research note on Thursday, August 13th. Zacks Research cut GDS from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $51.00 price objective on shares of GDS in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.12.

GDS Trading Down 8.8%

The company has a debt-to-equity ratio of 1.22, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s 50 day moving average is $31.48 and its 200-day moving average is $34.69. The company has a market capitalization of $4.62 billion, a P/E ratio of 8.27 and a beta of 0.42.

GDS (NASDAQ:GDS) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.52 EPS for the quarter. The business had revenue of $454.51 million for the quarter. GDS had a net margin of 30.70% and a return on equity of 17.94%. As a group, equities research analysts anticipate that GDS Holdings will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On GDS

Large investors have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of GDS during the first quarter valued at about $65,000. Nykredit A S purchased a new stake in GDS during the second quarter worth about $63,000. EverSource Wealth Advisors LLC lifted its stake in GDS by 73.5% in the first quarter. EverSource Wealth Advisors LLC now owns 2,160 shares of the company’s stock worth $87,000 after acquiring an additional 915 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of GDS during the 1st quarter worth about $132,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of GDS by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the company’s stock worth $157,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 33.71% of the company’s stock.

About GDS

GDS Holdings Limited (NASDAQ: GDS) is a developer and operator of data centers. The company provides data center infrastructure and related services to cloud service providers, internet companies, financial institutions, telecommunications carriers and multinational corporations.

Its services include wholesale and retail colocation, managed data center services, interconnection and cloud connectivity. GDS designs, builds and operates facilities intended to support customers’ critical information technology infrastructure, including cloud computing, data storage and other high-performance computing requirements.

Founded in 2001, GDS has historically focused on serving customers in China through data centers in major economic and technology centers.