GDS (NASDAQ:GDS) Shares Gap Up – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS) shares gapped up before the market opened on Monday . The stock had previously closed at $20.73, but opened at $22.50. GDS shares last traded at $22.24, with a volume of 303,009 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GDS shares. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price objective on shares of GDS in a report on Thursday. Bank of America raised their price target on shares of GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Nomura Securities upgraded GDS to a “strong-buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Stock Performance

The firm has a market capitalization of $4.21 billion, a PE ratio of -6.80 and a beta of 0.19. 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 company’s fifty day simple moving average is $21.17 and its 200 day simple moving average is $15.52.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently made changes to their positions in GDS. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GDS during the third quarter valued at about $27,212,000. Farallon Capital Management LLC increased its holdings in GDS by 72.7% during the 2nd quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock worth $11,391,000 after acquiring an additional 516,133 shares during the period. Baupost Group LLC MA lifted its stake in GDS by 63.5% in the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares in the last quarter. GSA Capital Partners LLP bought a new position in GDS in the 3rd quarter valued at $544,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in GDS in the 3rd quarter valued at $544,000. 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.