GDS (NASDAQ:GDS) Reaches New 1-Year High – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.97 and last traded at $40.85, with a volume of 211673 shares trading hands. The stock had previously closed at $39.14.

Analysts Set New Price Targets

GDS has been the subject of several analyst reports. Citizens Jmp raised GDS to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of GDS in a research note on Wednesday, January 29th. StockNews.com raised GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, JMP Securities assumed coverage on GDS in a report on Monday, January 27th. They issued an “outperform” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $22.60.

GDS Stock Performance

The firm has a fifty day moving average price of $25.13 and a two-hundred day moving average price of $21.06. The stock has a market capitalization of $9.24 billion, a PE ratio of -15.90 and a beta of 0.12. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in GDS by 7,553.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock worth $12,461,000 after purchasing an additional 602,840 shares during the period. Alberta Investment Management Corp purchased a new position in shares of GDS in the 4th quarter valued at $4,935,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of GDS in the 3rd quarter valued at $27,212,000. Pacer Advisors Inc. boosted its position in shares of GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after purchasing an additional 188,072 shares in the last quarter. Finally, Luxor Capital Group LP acquired a new stake in shares of GDS in the 3rd quarter worth $9,993,000. 33.71% of the stock is currently 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.