GDS Holdings Limited (NASDAQ:GDS) Sees Large Decline in Short Interest

GDS Holdings Limited (NASDAQ:GDS) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 5,000,000 shares, a decline of 11.0% from the October 31st total of 5,620,000 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is presently 3.0 days.

GDS Stock Up 0.8 %

GDS stock traded up $0.15 during mid-day trading on Friday, reaching $19.69. 451,048 shares of the company’s stock were exchanged, compared to its average volume of 1,674,179. GDS has a twelve month low of $5.01 and a twelve month high of $24.74. The company has a market cap of $3.75 billion, a P/E ratio of -6.46 and a beta of 0.23. The company has a fifty day moving average of $21.21 and a 200-day moving average of $15.13. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GDS. Bamco Inc. NY increased its position in shares of GDS by 128.6% in the third quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after acquiring an additional 3,397,592 shares in the last quarter. Sachem Head Capital Management LP boosted its position in GDS by 161.6% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after acquiring an additional 1,745,000 shares during the period. Baupost Group LLC MA grew its stake in GDS by 63.5% during the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock valued at $39,482,000 after acquiring an additional 1,649,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of GDS in the 3rd quarter valued at about $27,212,000. Finally, Portolan Capital Management LLC acquired a new position in shares of GDS in the 3rd quarter valued at about $26,572,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on GDS shares. Bank of America lifted their price target on GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada raised their price target on shares of GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Nomura Securities raised shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.47.

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.