GDS (NASDAQ:GDS) Hits New 52-Week High at $23.41

GDS Holdings Limited (NASDAQ:GDS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.41 and last traded at $23.41, with a volume of 37307 shares changing hands. The stock had previously closed at $22.38.

Wall Street Analyst Weigh In

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

GDS Stock Up 4.1 %

The firm has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $10.95. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -6.97 and a beta of 0.24.

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

Hedge Funds Weigh In On GDS

Several hedge funds have recently added to or reduced their stakes in GDS. Baupost Group LLC MA acquired a new position in GDS in the first quarter valued at about $17,290,000. Goldman Sachs Group Inc. raised its position in shares of GDS by 16.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock worth $49,289,000 after purchasing an additional 773,378 shares during the period. Farallon Capital Management LLC acquired a new stake in shares of GDS during the first quarter worth about $4,722,000. Wellington Management Group LLP raised its position in shares of GDS by 258.1% during the fourth quarter. Wellington Management Group LLP now owns 608,625 shares of the company’s stock worth $5,551,000 after purchasing an additional 438,661 shares during the period. Finally, Bamco Inc. NY acquired a new stake in shares of GDS during the first quarter worth about $2,896,000. 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.