GDS (NASDAQ:GDS) Sees Strong Trading Volume – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS) saw an uptick in trading volume on Monday . 1,672,977 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 1,569,148 shares.The stock last traded at $23.14 and had previously closed at $26.75.

Wall Street Analysts Forecast Growth

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

GDS Price Performance

The company has a 50-day moving average price of $21.58 and a 200-day moving average price of $17.95. The firm has a market capitalization of $4.17 billion, a PE ratio of -7.18 and a beta of 0.13. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Hedge Funds Weigh In On GDS

A number of large investors have recently modified their holdings of GDS. Blue Trust Inc. raised its position in GDS by 1,558.3% in the third 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 period. Public Employees Retirement System of Ohio purchased a new stake in shares of GDS during the third quarter worth about $64,000. Vanguard Personalized Indexing Management LLC acquired a new stake in GDS during the 2nd quarter valued at approximately $108,000. Signaturefd LLC raised its position in shares of GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Brookfield Corp ON bought a new stake in shares of GDS in the third quarter worth $171,000. 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.