GDS Holdings Limited (NASDAQ:GDS) Short Interest Up 9.7% in December

GDS Holdings Limited (NASDAQ:GDS) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,880,000 shares, a growth of 9.7% from the December 15th total of 5,360,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.2% of the company’s stock are short sold.

Hedge Funds Weigh In On GDS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in GDS by 7,553.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares during the last quarter. Tidal Investments LLC purchased a new stake in GDS in the third quarter valued at approximately $842,000. Geode Capital Management LLC increased its holdings in GDS by 20.5% in the 3rd quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock worth $1,572,000 after buying an additional 13,121 shares during the period. Public Employees Retirement System of Ohio purchased a new position in GDS during the 3rd quarter worth approximately $64,000. Finally, Luxor Capital Group LP acquired a new stake in GDS during the 3rd quarter valued at approximately $9,993,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

GDS Stock Performance

Shares of GDS stock traded up $0.80 during trading on Monday, reaching $23.52. The company’s stock had a trading volume of 1,787,614 shares, compared to its average volume of 868,403. The company has a 50-day simple moving average of $21.60 and a two-hundred day simple moving average of $18.39. GDS has a 1-year low of $5.01 and a 1-year high of $29.17. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25.

Wall Street Analyst Weigh In

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

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.