GDS (NASDAQ:GDS) Shares Gap Up to $6.77

GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Wednesday . The stock had previously closed at $6.77, but opened at $7.06. GDS shares last traded at $7.06, with a volume of 235,445 shares.

Analysts Set New Price Targets

GDS has been the topic of several recent analyst reports. StockNews.com raised GDS to a “sell” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on GDS from $12.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GDS has a consensus rating of “Hold” and a consensus target price of $15.69.

GDS Stock Performance

The firm’s fifty day simple moving average is $6.98 and its 200 day simple moving average is $8.18. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.32 and a quick ratio of 1.52. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -2.15 and a beta of 0.40.

GDS (NASDAQ:GDS) last released its earnings results on Tuesday, March 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). GDS had a negative net margin of 43.25% and a negative return on equity of 8.90%. The business had revenue of $360.07 million during the quarter, compared to analysts’ expectations of $363.21 million. On average, sell-side analysts forecast that GDS Holdings Limited will post -1.28 EPS for the current year.

Institutional Investors Weigh In On GDS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in GDS by 132.8% in the second quarter. Barclays PLC now owns 2,898 shares of the company’s stock valued at $32,000 after acquiring an additional 1,653 shares during the last quarter. Signaturefd LLC lifted its stake in shares of GDS by 20.0% in the 3rd quarter. Signaturefd LLC now owns 8,714 shares of the company’s stock valued at $95,000 after purchasing an additional 1,451 shares during the last quarter. abrdn plc boosted its holdings in GDS by 16.4% in the third quarter. abrdn plc now owns 203,408 shares of the company’s stock worth $2,227,000 after purchasing an additional 28,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in GDS by 76.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,630,386 shares of the company’s stock worth $17,853,000 after buying an additional 707,149 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in GDS during the third quarter valued at about $749,000. 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.