GDS (NASDAQ:GDS) Stock Price Up 4.4% – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS) shot up 4.4% on Wednesday . The stock traded as high as $22.12 and last traded at $21.95. 198,719 shares traded hands during trading, a decline of 88% from the average session volume of 1,619,371 shares. The stock had previously closed at $21.02.

Analyst Ratings Changes

A number of analysts have recently issued reports on GDS shares. Royal Bank of Canada increased their target price on GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a report on Monday. Bank of America upped 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. Finally, Nomura Securities raised GDS to a “strong-buy” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.29.

GDS Trading Down 3.8 %

The company has a fifty day moving average of $17.81 and a 200-day moving average of $12.08. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $4.03 billion, a PE ratio of -6.59 and a beta of 0.24.

GDS (NASDAQ:GDS) last announced its quarterly earnings results on Wednesday, August 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.07. The business had revenue of $388.92 million during the quarter, compared to analyst estimates of $384.14 million. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. On average, sell-side analysts anticipate that GDS Holdings Limited will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GDS

Several institutional investors and hedge funds have recently modified their holdings of GDS. Blue Trust Inc. lifted its position in shares of GDS by 1,558.3% in the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after buying an additional 2,353 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of GDS in the 2nd quarter valued at approximately $108,000. Quadrature Capital Ltd acquired a new stake in GDS in the 4th quarter worth approximately $107,000. Marshall Wace LLP bought a new stake in GDS during the second quarter worth approximately $203,000. Finally, Headlands Technologies LLC acquired a new position in GDS during the second quarter valued at approximately $256,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

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.