GDS (NASDAQ:GDS) Shares Up 7.3% – Still a Buy?

Shares of GDS Holdings Limited (NASDAQ:GDS) shot up 7.3% during mid-day trading on Wednesday . The stock traded as high as $44.34 and last traded at $43.76. 1,411,756 shares were traded during trading, a decline of 45% from the average session volume of 2,547,340 shares. The stock had previously closed at $40.77.

Wall Street Analyst Weigh In

GDS has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price target on shares of GDS in a research report on Wednesday, January 29th. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities started coverage on shares of GDS in a research report on Monday, January 27th. They set an “outperform” rating and a $35.00 price target for the company. Finally, StockNews.com upgraded shares of GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.60.

GDS Price Performance

The stock has a market cap of $8.41 billion, a P/E ratio of -14.53 and a beta of 0.12. 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 business’s fifty day moving average price is $24.69 and its 200 day moving average price is $20.91.

Institutional Investors Weigh In On GDS

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of GDS by 26.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after acquiring an additional 672 shares during the period. Signaturefd LLC lifted its position in shares of GDS by 17.3% during the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after acquiring an additional 1,215 shares during the period. Blue Trust Inc. lifted 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 acquiring an additional 2,353 shares during the period. BNP Paribas Financial Markets lifted its position in shares of GDS by 1.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 182,388 shares of the company’s stock valued at $3,721,000 after acquiring an additional 2,543 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of GDS during the 3rd quarter valued at $64,000. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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.