GDS (NASDAQ:GDS) Shares Up 7.4% – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS)’s stock price shot up 7.4% during mid-day trading on Monday . The stock traded as high as $29.08 and last traded at $29.31. 1,248,934 shares traded hands during trading, a decline of 39% from the average session volume of 2,039,759 shares. The stock had previously closed at $27.29.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GDS. StockNews.com raised GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 price target on shares of GDS in a report on Wednesday, January 29th. Citizens Jmp raised shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Daiwa Capital Markets raised GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, JMP Securities started coverage on GDS in a report on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.60.

GDS Trading Up 0.4 %

The company has a market capitalization of $6.56 billion, a PE ratio of -11.29 and a beta of 0.12. The stock has a fifty day moving average of $22.96 and a two-hundred day moving average of $19.96. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25.

Hedge Funds Weigh In On GDS

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in GDS by 25.8% in the fourth quarter. Geode Capital Management LLC now owns 96,933 shares of the company’s stock worth $2,303,000 after purchasing an additional 19,876 shares during the last quarter. LPL Financial LLC bought a new stake in shares of GDS in the 4th quarter valued at about $310,000. American Century Companies Inc. boosted its holdings in GDS by 509.6% during the 4th quarter. American Century Companies Inc. now owns 2,323,482 shares of the company’s stock valued at $55,206,000 after acquiring an additional 1,942,341 shares during the period. OPTIMAS CAPITAL Ltd purchased a new position in GDS in the 4th quarter worth approximately $4,096,000. Finally, PNC Financial Services Group Inc. lifted its position in GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the last quarter. 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.