GDS (NASDAQ:GDS) Trading Up 10% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS) shares traded up 10% during trading on Friday . The company traded as high as $23.20 and last traded at $23.36. 436,828 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,804,357 shares. The stock had previously closed at $21.23.

Analysts Set New Price Targets

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

GDS Stock Up 10.9 %

The firm has a market capitalization of $4.48 billion, a PE ratio of -7.70 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. The company has a 50-day moving average price of $21.52 and a 200 day moving average price of $18.59.

Hedge Funds Weigh In On GDS

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in GDS by 26.5% during the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock valued at $21,360,000 after purchasing an additional 188,072 shares during the period. Blue Trust Inc. increased its holdings in GDS by 121.9% during the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after buying an additional 3,053 shares during the period. JPMorgan Chase & Co. raised its stake in GDS by 7,553.4% in the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock worth $12,461,000 after buying an additional 602,840 shares in the last quarter. Tidal Investments LLC purchased a new stake in GDS during the third quarter worth $842,000. Finally, Geode Capital Management LLC boosted its position in GDS by 20.5% during the 3rd quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock valued at $1,572,000 after acquiring an additional 13,121 shares in the last quarter. 33.71% of the stock is owned by hedge funds and other institutional investors.

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.