GDS (NASDAQ:GDS) Stock Price Up 3% – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price target on shares of GDS in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GDS currently has an average rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Trading Up 6.5 %

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 has a fifty day simple moving average of $21.19 and a two-hundred day simple moving average of $17.56. The stock has a market capitalization of $5.37 billion, a P/E ratio of -9.24 and a beta of 0.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bamco Inc. NY grew its holdings in shares of GDS by 128.6% during the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after purchasing an additional 3,397,592 shares during the last quarter. Sachem Head Capital Management LP increased its holdings in GDS by 161.6% in the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after purchasing an additional 1,745,000 shares in the last quarter. Baupost Group LLC MA lifted its holdings in GDS by 63.5% during the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after buying an additional 1,649,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of GDS during the 3rd quarter worth approximately $27,212,000. Finally, Portolan Capital Management LLC acquired a new position in GDS during the 3rd quarter worth approximately $26,572,000. 33.71% of the stock is currently owned by 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.