Short Interest in GDS Holdings Limited (NASDAQ:GDS) Grows By 39.5%

GDS Holdings Limited (NASDAQ:GDS) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 10,530,000 shares, a growth of 39.5% from the February 13th total of 7,550,000 shares. Based on an average daily volume of 2,730,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 5.7% of the shares of the stock are sold short.

GDS Stock Performance

Shares of GDS stock opened at $35.45 on Tuesday. GDS has a one year low of $5.85 and a one year high of $52.50. The business has a 50-day simple moving average of $31.11 and a 200-day simple moving average of $24.24. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $6.76 billion, a PE ratio of -11.62 and a beta of 0.07.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada cut shares of GDS from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $26.00 to $37.00 in a research report on Tuesday, February 25th. JMP Securities started coverage on shares of GDS in a report on Monday, January 27th. They issued an “outperform” rating and a $35.00 target price for the company. Citizens Jmp raised GDS to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Raymond James boosted their price target on GDS from $25.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.23.

Hedge Funds Weigh In On GDS

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in GDS during the 3rd quarter worth $64,000. PNC Financial Services Group Inc. lifted its holdings in GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after acquiring an additional 672 shares during the period. Wells Fargo & Company MN boosted its position in GDS by 1,904.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock worth $90,000 after purchasing an additional 3,599 shares in the last quarter. Blue Trust Inc. increased its holdings in GDS by 121.9% during the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after acquiring an additional 3,053 shares in the last quarter. Finally, Brookfield Corp ON acquired a new stake in shares of GDS in the third quarter valued at approximately $171,000. 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.