GDS (NASDAQ:GDS) Shares Gap Up – Should You Buy?

GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Monday . The stock had previously closed at $20.73, but opened at $22.50. GDS shares last traded at $22.24, with a volume of 303,009 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GDS. Bank of America lifted their price target on GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 target price on shares of GDS in a research report on Thursday. Finally, Nomura Securities raised shares of GDS to a “strong-buy” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Trading Up 6.6 %

The stock has a fifty day moving average of $21.17 and a two-hundred day moving average of $15.52. The company has a market capitalization of $4.21 billion, a PE ratio of -6.80 and a beta of 0.19. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25.

Institutional Investors Weigh In On GDS

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after acquiring an additional 2,353 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of GDS during the third quarter valued at approximately $64,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of GDS in the second quarter worth approximately $108,000. Signaturefd LLC increased its stake in shares of GDS by 17.3% in the third quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock worth $168,000 after buying an additional 1,215 shares during the period. Finally, Brookfield Corp ON bought a new stake in GDS during the 3rd quarter valued at $171,000. 33.71% of the stock is currently owned by institutional investors.

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.