GDS (NASDAQ:GDS) Shares Gap Up to $16.12

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Tuesday . The stock had previously closed at $16.12, but opened at $16.64. GDS shares last traded at $17.78, with a volume of 407,706 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GDS shares. Royal Bank of Canada raised GDS from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $13.00 to $14.00 in a research note on Monday, July 8th. Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Bank of America boosted their target price on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GDS presently has a consensus rating of “Moderate Buy” and an average price target of $15.29.

GDS Stock Down 3.5 %

The firm’s 50 day simple moving average is $13.64 and its 200-day simple moving average is $10.08. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -5.36 and a beta of 0.23. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39.

GDS (NASDAQ:GDS) last announced its earnings results on Wednesday, August 21st. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. GDS had a negative net margin of 39.96% and a negative return on equity of 9.10%. The business had revenue of $388.92 million for the quarter, compared to analysts’ expectations of $384.14 million. As a group, sell-side analysts anticipate that GDS Holdings Limited will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On GDS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in shares of GDS in the fourth quarter valued at about $107,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of GDS during the 2nd quarter valued at approximately $108,000. Capstone Investment Advisors LLC purchased a new stake in shares of GDS during the 1st quarter worth approximately $188,000. Marshall Wace LLP purchased a new stake in shares of GDS during the 2nd quarter worth approximately $203,000. Finally, Headlands Technologies LLC acquired a new stake in shares of GDS in the 2nd quarter worth approximately $256,000. 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.