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

GDS Holdings Limited (NASDAQ:GDS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $35.44, but opened at $37.58. GDS shares last traded at $38.87, with a volume of 1,357,689 shares traded.

Analysts Set New Price Targets

GDS has been the topic of several research reports. Jefferies Financial Group downgraded GDS from a “buy” rating to a “hold” rating and upped their target price for the company from $27.06 to $45.00 in a research report on Monday, February 24th. Citizens Jmp raised GDS to a “strong-buy” rating in a report on Monday, January 27th. Raymond James lifted their target price on GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada lowered shares of GDS from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $26.00 to $37.00 in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.23.

GDS Price Performance

The firm has a market cap of $7.35 billion, a P/E ratio of -12.65 and a beta of 0.06. 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 50-day moving average is $28.66 and its two-hundred day moving average is $22.91.

Institutional Trading of GDS

Several large investors have recently made changes to their positions in GDS. Public Employees Retirement System of Ohio acquired a new stake in shares of GDS in the 3rd quarter valued at $64,000. PNC Financial Services Group Inc. boosted its stake in GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after buying an additional 672 shares in the last quarter. Wells Fargo & Company MN grew its position in GDS by 1,904.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock valued at $90,000 after acquiring an additional 3,599 shares during the last quarter. Blue Trust Inc. raised its stake in GDS by 121.9% during the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after acquiring an additional 3,053 shares in the last quarter. Finally, Brookfield Corp ON bought a new position in shares of GDS in the third quarter worth about $171,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

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.