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

GDS Holdings Limited (NASDAQ:GDS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $36.41, but opened at $38.19. GDS shares last traded at $36.90, with a volume of 328,962 shares.

Wall Street Analysts Forecast Growth

GDS has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of GDS from a “buy” rating to a “hold” rating and lifted their price target for the company from $27.06 to $45.00 in a research report on Monday, February 24th. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. Raymond James raised their target price on GDS from $25.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, February 21st. StockNews.com lowered shares of GDS from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, JMP Securities initiated coverage on shares of GDS in a research note on Monday, January 27th. They issued an “outperform” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GDS has an average rating of “Moderate Buy” and a consensus target price of $33.23.

GDS Stock Performance

The company has a market capitalization of $7.14 billion, a PE ratio of -12.29 and a beta of 0.07. The stock’s 50-day simple moving average is $29.94 and its 200 day simple moving average is $23.57. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19.

Institutional Trading of GDS

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in GDS during the 3rd quarter worth $64,000. PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 672 shares during the period. Wells Fargo & Company MN grew its stake in shares of 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 purchasing an additional 3,599 shares during the last quarter. Blue Trust Inc. raised its stake in shares of GDS by 121.9% during the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after purchasing an additional 3,053 shares during the last quarter. Finally, Brookfield Corp ON purchased a new position in GDS in the 3rd quarter valued at $171,000. 33.71% of the stock is 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.