GDS (NASDAQ:GDS) Sees Strong Trading Volume – Here’s What Happened

Shares of GDS Holdings Limited (NASDAQ:GDS) saw unusually-high trading volume on Monday . Approximately 1,672,977 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 1,569,148 shares.The stock last traded at $23.14 and had previously closed at $26.75.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price objective on shares of GDS in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GDS currently has an average rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Stock Down 3.4 %

The company’s 50-day simple moving average is $21.62 and its two-hundred day simple moving average is $18.13. The firm has a market capitalization of $4.08 billion, a P/E ratio of -7.02 and a beta of 0.13. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Hedge Funds Weigh In On GDS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY raised its stake 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 buying an additional 3,397,592 shares during the period. Sachem Head Capital Management LP lifted its holdings in GDS by 161.6% during the third quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock valued at $57,630,000 after purchasing an additional 1,745,000 shares in the last quarter. Baupost Group LLC MA boosted its position in shares of GDS by 63.5% in the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GDS in the third quarter worth $27,212,000. Finally, Portolan Capital Management LLC purchased a new position in shares of GDS during the 3rd quarter valued at $26,572,000. 33.71% of the stock is currently owned by hedge funds and other institutional investors.

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.