GDS (NASDAQ:GDS) Trading Up 4.2% – Here’s Why

Shares of GDS Holdings Limited (NASDAQ:GDS) shot up 4.2% during mid-day trading on Friday . The company traded as high as $21.63 and last traded at $21.52. 270,784 shares changed hands during trading, a decline of 82% from the average session volume of 1,533,990 shares. The stock had previously closed at $20.65.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 price target 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.47.

GDS Price Performance

The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The company’s 50 day moving average price is $20.82 and its 200-day moving average price is $16.74. The company has a market cap of $4.25 billion, a price-to-earnings ratio of -7.31 and a beta of 0.18.

Institutional Investors Weigh In On GDS

Several large investors have recently modified their holdings of GDS. Headlands Technologies LLC purchased a new stake in shares of GDS during the second quarter valued at $256,000. Vanguard Personalized Indexing Management LLC acquired a new stake in GDS during the 2nd quarter worth about $108,000. Pacer Advisors Inc. lifted its stake in GDS by 17.3% during the second quarter. Pacer Advisors Inc. now owns 849,568 shares of the company’s stock valued at $7,892,000 after buying an additional 125,395 shares in the last quarter. Baupost Group LLC MA boosted its holdings in shares of GDS by 63.5% in the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after buying an additional 1,649,952 shares during the period. Finally, Farallon Capital Management LLC increased its position in shares of GDS by 72.7% in the second 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 in the last quarter. 33.71% of the stock is 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.