GDS (NASDAQ:GDS) Shares Gap Up – What’s Next?

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped up before the market opened on Friday . The stock had previously closed at $36.02, but opened at $41.83. GDS shares last traded at $39.02, with a volume of 2,226,717 shares traded.

Analysts Set New Price Targets

GDS has been the topic of a number of research analyst reports. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price target on shares of GDS in a report on Wednesday, January 29th. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a report on Tuesday, February 11th. JMP Securities assumed coverage on GDS in a research note on Monday, January 27th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, StockNews.com raised shares of GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.60.

GDS Stock Up 8.7 %

The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a 50-day moving average of $23.94 and a 200 day moving average of $20.36. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of -12.83 and a beta of 0.12.

Hedge Funds Weigh In On GDS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised 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 acquiring an additional 2,353 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of GDS during the 3rd quarter worth about $64,000. PNC Financial Services Group Inc. raised its holdings in shares of GDS by 26.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the period. Wells Fargo & Company MN lifted its stake in GDS by 1,904.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock valued at $90,000 after purchasing an additional 3,599 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in GDS by 17.3% during the third quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after purchasing an additional 1,215 shares during the period. 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.