GDS (NASDAQ:GDS) Sets New 1-Year High – Here’s Why

GDS Holdings Limited (NASDAQ:GDS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.73 and last traded at $29.25, with a volume of 2701616 shares trading hands. The stock had previously closed at $27.28.

Analysts Set New Price Targets

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

GDS Stock Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The business has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $19.96.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDS. Blue Trust Inc. boosted its position in GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after purchasing an additional 2,353 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of GDS during the 3rd quarter worth about $64,000. PNC Financial Services Group Inc. boosted its holdings in shares of GDS by 26.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock worth $75,000 after buying an additional 672 shares during the period. Signaturefd LLC grew its stake in GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after buying an additional 1,215 shares during the last quarter. Finally, Brookfield Corp ON bought a new stake in shares of GDS during the third quarter worth approximately $171,000. 33.71% of the stock is owned by institutional investors and hedge funds.

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.