GDS (NASDAQ:GDS) Shares Gap Up – Should You Buy?

GDS Holdings Limited (NASDAQ:GDS) shares gapped up before the market opened on Thursday . The stock had previously closed at $19.92, but opened at $20.70. GDS shares last traded at $20.78, with a volume of 873,227 shares changing hands.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price target on shares of GDS in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GDS presently has an average rating of “Moderate Buy” and an average price target of $18.47.

GDS Trading Up 7.3 %

The company’s fifty day simple moving average is $21.52 and its 200-day simple moving average is $18.59. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25.

Institutional Trading of GDS

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in GDS by 7,553.4% during the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GDS in the 3rd quarter valued at about $27,212,000. Luxor Capital Group LP bought a new position in shares of GDS during the 3rd quarter worth approximately $9,993,000. GSA Capital Partners LLP purchased a new stake in GDS during the third quarter valued at approximately $544,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GDS in the third quarter valued at approximately $1,001,000. 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.