GDS (NASDAQ:GDS) Trading Up 7.4% – What’s Next?

GDS Holdings Limited (NASDAQ:GDS)’s stock price shot up 7.4% during trading on Wednesday . The stock traded as high as $19.64 and last traded at $19.60. 146,722 shares changed hands during trading, a decline of 91% from the average session volume of 1,606,525 shares. The stock had previously closed at $18.25.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Nomura Securities upgraded GDS to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Bank of America lifted their price target on GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GDS presently has an average rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Stock Up 8.3 %

The stock has a 50-day simple moving average of $21.15 and a two-hundred day simple moving average of $14.90. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25. The firm has a market cap of $3.77 billion, a PE ratio of -6.43 and a beta of 0.23.

Institutional Trading of GDS

Hedge funds have recently bought and sold shares of the company. Bamco Inc. NY grew its stake in shares of GDS by 128.6% during the third quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after buying an additional 3,397,592 shares during the last quarter. Sachem Head Capital Management LP grew its position in GDS by 161.6% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after acquiring an additional 1,745,000 shares during the last quarter. Baupost Group LLC MA lifted its position in GDS by 63.5% in the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock valued at $39,482,000 after purchasing an additional 1,649,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GDS during the third quarter valued at approximately $27,212,000. Finally, Portolan Capital Management LLC bought a new stake in shares of GDS in the third quarter worth about $26,572,000. Institutional investors own 33.71% of the company’s stock.

GDS Company Profile

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.