GDS (NASDAQ:GDS) Hits New 1-Year High Following Analyst Upgrade

GDS Holdings Limited (NASDAQ:GDS)’s share price reached a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $12.40 to $22.40. Bank of America currently has a buy rating on the stock. GDS traded as high as $17.36 and last traded at $16.94, with a volume of 261434 shares changing hands. The stock had previously closed at $17.04.

Separately, Royal Bank of Canada upgraded GDS from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $13.00 to $14.00 in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.29.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GDS. Tower Research Capital LLC TRC bought a new stake in shares of GDS in the fourth quarter valued at approximately $53,000. Quadrature Capital Ltd bought a new stake in GDS in the 4th quarter valued at $107,000. Vanguard Personalized Indexing Management LLC acquired a new stake in GDS in the 2nd quarter worth $108,000. Capstone Investment Advisors LLC acquired a new stake in GDS in the 1st quarter worth $188,000. Finally, Marshall Wace LLP bought a new position in shares of GDS during the 2nd quarter worth about $203,000. 33.71% of the stock is owned by institutional investors.

GDS Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.25. The stock’s 50-day moving average price is $11.46 and its 200 day moving average price is $8.96. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -5.17 and a beta of 0.20.

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.