GDS (NASDAQ:GDS) Sets New 12-Month High – What’s Next?

GDS Holdings Limited (NASDAQ:GDS) shares hit a new 52-week high on Tuesday . The company traded as high as $24.40 and last traded at $23.90, with a volume of 643942 shares changing hands. The stock had previously closed at $22.21.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Nomura Securities raised shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America boosted their target price on GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada raised their price target on GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.29.

GDS Stock Up 3.8 %

The business has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $12.35. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.30. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -7.55 and a beta of 0.24.

GDS (NASDAQ:GDS) last announced its quarterly earnings results on Wednesday, August 21st. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.07. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. The company had revenue of $388.92 million for the quarter, compared to the consensus estimate of $384.14 million. As a group, equities analysts forecast that GDS Holdings Limited will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of GDS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macroview Investment Management LLC acquired a new stake in GDS in the 3rd quarter worth $275,000. Signaturefd LLC raised its position in shares of GDS by 17.3% during the third quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after buying an additional 1,215 shares during the last quarter. Blue Trust Inc. grew its position in GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after buying an additional 2,353 shares in the last quarter. Swedbank AB grew its position in GDS by 3.7% during the third quarter. Swedbank AB now owns 338,974 shares of the company’s stock worth $6,915,000 after buying an additional 12,100 shares in the last quarter. Finally, Creative Planning grew its position in GDS by 10.3% during the second quarter. Creative Planning now owns 99,850 shares of the company’s stock worth $928,000 after buying an additional 9,332 shares in the last quarter. Institutional investors and hedge funds 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.