GDS (NASDAQ:GDS) Stock Price Down 8.3% - Should You Sell?

Key Points

• GDS Holdings stock price dropped by 8.3%, falling from a previous close of $38.42 to $35.21, with a significant trading volume decline of 78% from its average.
• Wall Street analysts have a consensus rating of "Moderate Buy" for GDS, with target prices ranging from $46.00 to $50.00 set by various firms.
• Institutional investors control 33.71% of GDS, with notable increases in stakes from several, including Mirae Asset Global Investments, which grew its position by over 1,678%.

GDS Holdings (NASDAQ:GDS - Get Free Report) fell 8.3% during trading on Friday . The company traded as low as $36.62 and last traded at $35.21. 634,944 shares changed hands during trading, a decline of 78% from the average session volume of 2,836,991 shares. The stock had previously closed at $38.42.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDS. JPMorgan Chase & Co. raised shares of GDS from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $34.00 to $46.00 in a research report on Wednesday, July 16th. JMP Securities boosted their target price on shares of GDS from $40.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of GDS in a report on Wednesday. Zacks Research cut shares of GDS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, BMO Capital Markets raised shares of GDS to a "market perform" rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, GDS presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.93.

GDS Trading Down 10.1%

The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.71. The firm's 50 day simple moving average is $36.19 and its two-hundred day simple moving average is $30.54. The stock has a market cap of $6.58 billion, a P/E ratio of 10.25 and a beta of 0.36.

Institutional Trading of GDS

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of GDS during the first quarter worth about $523,000. APEIRON CAPITAL Ltd bought a new position in shares of GDS during the first quarter worth about $382,000. Perpetual Ltd bought a new position in shares of GDS during the first quarter worth about $1,528,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of GDS by 1,678.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,900 shares of the company's stock worth $1,663,000 after acquiring an additional 62,194 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd bought a new position in shares of GDS during the first quarter worth about $887,000. Institutional investors own 33.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.