GDS (NASDAQ:GDS) Shares Up 5.6% – Time to Buy?

GDS Holdings Limited (NASDAQ:GDS)’s stock price rose 5.6% on Tuesday . The stock traded as high as $20.94 and last traded at $20.91. Approximately 595,212 shares were traded during trading, a decline of 63% from the average daily volume of 1,598,014 shares. The stock had previously closed at $19.80.

Wall Street Analysts Forecast Growth

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

GDS Trading Up 3.4 %

The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50-day moving average is $21.20 and its two-hundred day moving average is $15.21.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in shares of GDS during the third quarter valued at $842,000. Geode Capital Management LLC increased its position in shares of GDS by 20.5% during the third quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock valued at $1,572,000 after acquiring an additional 13,121 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in GDS in the 3rd quarter worth approximately $64,000. Luxor Capital Group LP bought a new position in GDS in the 3rd quarter valued at approximately $9,993,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of GDS in the 3rd quarter worth $416,000. 33.71% of the stock is currently owned by 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.