GDS (NASDAQ:GDS) Shares Gap Up – Here’s Why

GDS Holdings Limited (NASDAQ:GDS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $43.01, but opened at $49.65. GDS shares last traded at $50.28, with a volume of 4,259,288 shares.

Analyst Ratings Changes

Several analysts have recently commented on the company. JMP Securities started coverage on GDS in a report on Monday, January 27th. They set an “outperform” rating and a $35.00 target price on the stock. Raymond James increased their price objective on shares of GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 target price on shares of GDS in a research note on Wednesday, January 29th. StockNews.com raised shares of GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $28.68.

GDS Stock Performance

The stock has a market cap of $8.53 billion, a P/E ratio of -14.68 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. The stock’s 50 day simple moving average is $26.17 and its two-hundred day simple moving average is $21.49.

Hedge Funds Weigh In On GDS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of GDS by 1,558.3% in the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after purchasing an additional 2,353 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of GDS during the third quarter worth about $64,000. PNC Financial Services Group Inc. raised its position in GDS by 26.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the last quarter. Wells Fargo & Company MN lifted its stake in GDS by 1,904.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock valued at $90,000 after acquiring an additional 3,599 shares in the last quarter. Finally, Signaturefd LLC boosted its position in GDS by 17.3% during the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after acquiring an additional 1,215 shares during the last quarter. 33.71% of the stock is owned by institutional investors and hedge funds.

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.