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

GDS Holdings Limited (NASDAQ:GDS) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 11,950,000 shares, a growth of 10.2% from the March 15th total of 10,840,000 shares. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is currently 6.4 days. Approximately 7.0% of the shares of the company are short sold.

Institutional Investors Weigh In On GDS

Several large investors have recently added to or reduced their stakes in GDS. Cerity Partners LLC acquired a new stake in GDS in the fourth quarter worth $13,928,000. Goldman Sachs Group Inc. increased its position in GDS by 68.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,722,047 shares of the company’s stock worth $146,090,000 after buying an additional 1,507,914 shares during the period. Bank of America Corp DE increased its holdings in shares of GDS by 366.6% during the fourth quarter. Bank of America Corp DE now owns 1,562,795 shares of the company’s stock valued at $32,225,000 after purchasing an additional 1,227,878 shares during the period. Pacer Advisors Inc. acquired a new position in shares of GDS during the fourth quarter valued at $6,952,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of GDS by 76.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,630,386 shares of the company’s stock valued at $17,853,000 after purchasing an additional 707,149 shares during the period. 33.71% of the stock is owned by institutional investors and hedge funds.

GDS Price Performance

Shares of NASDAQ GDS opened at $6.14 on Wednesday. GDS has a 1-year low of $5.01 and a 1-year high of $17.75. The company has a quick ratio of 1.52, a current ratio of 1.32 and a debt-to-equity ratio of 1.92. The business’s fifty day moving average price is $6.93 and its two-hundred day moving average price is $8.32.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GDS. StockNews.com upgraded GDS to a “sell” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on GDS from $12.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.69.

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.