GDS (NASDAQ:GDS) Shares Up 3% – Here’s Why

GDS Holdings Limited (NASDAQ:GDS) shares were up 3% on Wednesday . The company traded as high as $27.44 and last traded at $27.26. Approximately 391,147 shares were traded during 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 Analyst Weigh In

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

GDS Price Performance

The firm has a market capitalization of $5.10 billion, a PE ratio of -8.77 and a beta of 0.13. The business has a 50-day moving average of $21.47 and a 200 day moving average of $17.71. 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 Investors Weigh In On GDS

A number of institutional investors and hedge funds have recently bought and sold shares of GDS. Blue Trust Inc. increased its position in shares of GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after purchasing an additional 2,353 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in GDS in the 3rd quarter worth about $64,000. Vanguard Personalized Indexing Management LLC purchased a new stake in GDS in the 2nd quarter worth about $108,000. Signaturefd LLC increased its holdings in GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Brookfield Corp ON purchased a new stake in GDS in the 3rd quarter worth about $171,000. 33.71% of the stock is 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.