GDS (NASDAQ:GDS) Shares Gap Down - Here's What Happened

GDS Holdings (NASDAQ:GDS - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $33.98, but opened at $32.18. GDS shares last traded at $31.94, with a volume of 354,666 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on GDS shares. Citigroup restated an "outperform" rating on shares of GDS in a research note on Thursday, March 20th. JMP Securities reaffirmed a "market outperform" rating and set a $40.00 price objective on shares of GDS in a research report on Wednesday, May 21st. Wall Street Zen raised GDS from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group upgraded shares of GDS from a "hold" rating to a "buy" rating and set a $45.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Daiwa Capital Markets reiterated a "buy" rating on shares of GDS in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $39.48.

GDS Stock Down 4.9%

The stock has a market capitalization of $6.16 billion, a P/E ratio of 9.91 and a beta of 0.31. The company has a fifty day moving average price of $27.27 and a 200-day moving average price of $27.39. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.62.

GDS (NASDAQ:GDS - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.70. The firm had revenue of $375.14 million for the quarter, compared to the consensus estimate of $2.72 billion. GDS had a net margin of 39.90% and a return on equity of 0.78%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.96) EPS. As a group, research analysts forecast that GDS Holdings will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On GDS

Large investors have recently made changes to their positions in the company. Anson Funds Management LP bought a new stake in shares of GDS during the first quarter worth $1,287,000. Bayforest Capital Ltd purchased a new stake in shares of GDS in the first quarter valued at approximately $624,000. Woodline Partners LP increased its holdings in GDS by 7.0% during the 1st quarter. Woodline Partners LP now owns 219,745 shares of the company's stock worth $5,566,000 after purchasing an additional 14,468 shares during the period. Scientech Research LLC bought a new position in shares of GDS during the 1st quarter worth $852,000. Finally, NewEdge Advisors LLC bought a new stake in shares of GDS in the first quarter valued at about $25,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

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.