GDS (NASDAQ:GDS) Sets New 12-Month High – What’s Next?

Shares of GDS Holdings Limited (NASDAQ:GDS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.20 and last traded at $25.08, with a volume of 283209 shares. The stock had previously closed at $24.05.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set 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 issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Stock Performance

The stock has a 50-day moving average price of $21.02 and a 200 day moving average price of $17.31. The firm has a market cap of $4.84 billion, a PE ratio of -8.33 and a beta of 0.18. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Hedge Funds Weigh In On GDS

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of GDS by 7,553.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares in the last quarter. Tidal Investments LLC acquired a new position in GDS during the third quarter valued at approximately $842,000. Geode Capital Management LLC grew its stake in GDS by 20.5% during the third quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock worth $1,572,000 after buying an additional 13,121 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of GDS in the third quarter worth $64,000. Finally, Luxor Capital Group LP purchased a new position in shares of GDS in the 3rd quarter valued at $9,993,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

GDS Company Profile

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.