GDS (NASDAQ:GDS) Sets New 12-Month High – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $24.40 and last traded at $23.90, with a volume of 643942 shares changing hands. The stock had previously closed at $22.21.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GDS shares. Bank of America upped their price target on shares of GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada raised their price target on shares of GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GDS currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.29.

GDS Stock Down 3.8 %

The company’s 50 day simple moving average is $18.65 and its 200-day simple moving average is $12.52. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.30. The firm has a market cap of $4.11 billion, a P/E ratio of -6.73 and a beta of 0.24.

GDS (NASDAQ:GDS) last issued its quarterly earnings data on Wednesday, August 21st. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. GDS had a negative net margin of 39.96% and a negative return on equity of 9.10%. The company had revenue of $388.92 million for the quarter, compared to the consensus estimate of $384.14 million. Research analysts forecast that GDS Holdings Limited will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GDS

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC grew its position in GDS by 17.3% during the third 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 period. Blue Trust Inc. boosted its stake in shares of GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after acquiring an additional 2,353 shares during the last quarter. Creative Planning grew its position in shares of GDS by 10.3% during the 2nd quarter. Creative Planning now owns 99,850 shares of the company’s stock valued at $928,000 after acquiring an additional 9,332 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of GDS in the 2nd quarter worth $108,000. Finally, Quadrature Capital Ltd bought a new position in GDS in the 4th quarter worth $107,000. 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.