GDS (NASDAQ:GDS) Shares Gap Up to $20.51

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Tuesday . The stock had previously closed at $20.51, but opened at $21.99. GDS shares last traded at $22.00, with a volume of 595,859 shares trading hands.

Wall Street Analyst Weigh In

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

GDS Price Performance

The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $3.85 billion, a P/E ratio of -6.85 and a beta of 0.24. The firm has a 50-day moving average price of $14.14 and a 200-day moving average price of $10.40.

GDS (NASDAQ:GDS) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.18) EPS 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 business had revenue of $388.92 million during the quarter, compared to analyst estimates of $384.14 million. On average, analysts forecast that GDS Holdings Limited will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of GDS

A number of hedge funds have recently made changes to their positions in the stock. Baupost Group LLC MA purchased a new stake in shares of GDS during the first quarter valued at approximately $17,290,000. Goldman Sachs Group Inc. raised its holdings in GDS by 16.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock valued at $49,289,000 after acquiring an additional 773,378 shares during the period. Farallon Capital Management LLC purchased a new position in shares of GDS in the first quarter valued at about $4,722,000. Wellington Management Group LLP boosted its stake in shares of GDS by 258.1% in the fourth quarter. Wellington Management Group LLP now owns 608,625 shares of the company’s stock worth $5,551,000 after acquiring an additional 438,661 shares during the period. Finally, Bamco Inc. NY bought a new position in shares of GDS in the first quarter worth about $2,896,000. 33.71% of the stock is owned by institutional investors.

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.