GDS (NASDAQ:GDS) Trading Up 7.4% – Here’s Why

GDS Holdings Limited (NASDAQ:GDS)’s share price shot up 7.4% during mid-day trading on Wednesday . The company traded as high as $19.64 and last traded at $19.60. 146,722 shares traded hands during trading, a decline of 91% from the average session volume of 1,606,525 shares. The stock had previously closed at $18.25.

Analyst Ratings Changes

Several research firms have weighed in on GDS. Nomura Securities raised shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America upped their price target on GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price target on GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Trading Up 8.3 %

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 has a market capitalization of $3.77 billion, a P/E ratio of -6.43 and a beta of 0.23. The firm has a fifty day moving average price of $21.15 and a 200-day moving average price of $14.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDS. Blue Trust Inc. boosted its holdings in GDS by 1,558.3% in the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after buying an additional 2,353 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of GDS during the third quarter worth $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of GDS in the second quarter valued at $108,000. Signaturefd LLC raised its stake in shares of GDS by 17.3% during the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after purchasing an additional 1,215 shares during the period. Finally, Brookfield Corp ON purchased a new stake in GDS during the 3rd quarter worth about $171,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

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.