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

GDS Holdings Limited (NASDAQ:GDS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $19.92, but opened at $20.70. GDS shares last traded at $20.78, with a volume of 873,227 shares traded.

Analyst Upgrades and Downgrades

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

GDS Trading Up 4.9 %

The firm has a market capitalization of $3.98 billion, a PE ratio of -6.85 and a beta of 0.13. The business has a 50 day moving average price of $21.54 and a 200-day moving average price of $18.58. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25.

Institutional Trading of GDS

A number of institutional investors have recently bought and sold shares of GDS. JPMorgan Chase & Co. increased its position in GDS by 7,553.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock worth $12,461,000 after purchasing an additional 602,840 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in GDS during the third quarter worth about $27,212,000. Luxor Capital Group LP purchased a new position in GDS in the third quarter valued at about $9,993,000. GSA Capital Partners LLP acquired a new position in shares of GDS during the third quarter worth about $544,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of GDS in the third quarter worth about $1,001,000. 33.71% of the stock is currently owned by hedge funds and other 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.