GDS (NASDAQ:GDS) Shares Up 3% – Here’s Why

Shares of GDS Holdings Limited (NASDAQ:GDS) shot up 3% on Wednesday . The company traded as high as $27.44 and last traded at $27.26. 391,147 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,275,687 shares. The stock had previously closed at $26.46.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 target price on shares of GDS in a research report on Thursday, December 5th. One investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Price Performance

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 company’s 50-day simple moving average is $21.47 and its 200 day simple moving average is $17.71. The company has a market capitalization of $5.10 billion, a P/E ratio of -8.77 and a beta of 0.13.

Institutional Trading of GDS

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position 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 purchasing an additional 2,353 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in GDS during the 3rd quarter worth approximately $64,000. Vanguard Personalized Indexing Management LLC bought a new position in GDS during the 2nd quarter worth approximately $108,000. Signaturefd LLC raised its holdings in GDS by 17.3% during the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after buying an additional 1,215 shares during the period. 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 owned by institutional investors.

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.