GDS (NASDAQ:GDS) Shares Up 7.3% – Still a Buy?

Shares of GDS Holdings Limited (NASDAQ:GDS) rose 7.3% during trading on Wednesday . The company traded as high as $44.34 and last traded at $43.76. Approximately 1,411,756 shares traded hands during trading, a decline of 45% from the average daily volume of 2,547,340 shares. The stock had previously closed at $40.77.

Wall Street Analysts Forecast Growth

GDS has been the subject of a number of recent research reports. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. JMP Securities assumed coverage on shares of GDS in a research note on Monday, January 27th. They issued an “outperform” rating and a $35.00 target price for the company. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com upgraded shares of GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 target price on shares of GDS in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.60.

GDS Price Performance

The business has a 50 day moving average of $24.69 and a 200 day moving average of $20.91. The company has a market cap of $8.41 billion, a PE ratio of -14.53 and a beta of 0.12. 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

Several large investors have recently modified their holdings of GDS. Voloridge Investment Management LLC grew its stake in shares of GDS by 36.9% during the 4th quarter. Voloridge Investment Management LLC now owns 521,171 shares of the company’s stock valued at $12,383,000 after purchasing an additional 140,343 shares during the period. Woodline Partners LP purchased a new stake in shares of GDS during the 4th quarter worth approximately $4,877,000. Vident Advisory LLC raised its holdings in shares of GDS by 23.9% during the 4th quarter. Vident Advisory LLC now owns 24,390 shares of the company’s stock worth $580,000 after acquiring an additional 4,710 shares in the last quarter. Triata Capital Ltd bought a new position in shares of GDS during the 4th quarter valued at approximately $41,472,000. Finally, Saba Capital Management L.P. increased its position in shares of GDS by 33.5% during the 4th quarter. Saba Capital Management L.P. now owns 159,328 shares of the company’s stock valued at $3,786,000 after purchasing an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 33.71% of the company’s stock.

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.