GDS (NASDAQ:GDS) Shares Gap Up to $12.60

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Wednesday . The stock had previously closed at $12.60, but opened at $13.19. GDS shares last traded at $14.26, with a volume of 786,157 shares trading hands.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised GDS from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $13.00 to $14.00 in a research note on Monday, July 8th.

GDS Price Performance

The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -4.38 and a beta of 0.20. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.25. The company has a 50 day moving average of $10.72 and a 200 day moving average of $8.59.

GDS (NASDAQ:GDS) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.06. The business had revenue of $363.89 million for the quarter, compared to the consensus estimate of $366.92 million. GDS had a negative return on equity of 8.70% and a negative net margin of 41.33%. Equities research analysts predict that GDS Holdings Limited will post -1.26 EPS for the current fiscal year.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently modified their holdings of GDS. Canada Pension Plan Investment Board raised its stake in GDS by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 9,713,325 shares of the company’s stock valued at $64,594,000 after buying an additional 33,978 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GDS by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock valued at $49,289,000 after purchasing an additional 773,378 shares during the last quarter. Baupost Group LLC MA boosted its position in GDS by 63.5% during the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of GDS by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,696,842 shares of the company’s stock valued at $15,475,000 after purchasing an additional 66,456 shares during the last quarter. Finally, Farallon Capital Management LLC raised its position in shares of GDS by 72.7% in the second quarter. Farallon Capital Management LLC now owns 1,226,133 shares of the company’s stock valued at $11,391,000 after purchasing an additional 516,133 shares during the period. Institutional investors and hedge funds 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.