GDS (NASDAQ:GDS) Trading 4.2% Higher – Here’s What Happened

Shares of GDS Holdings Limited (NASDAQ:GDS) were up 4.2% on Friday . The stock traded as high as $21.63 and last traded at $21.52. Approximately 270,784 shares changed hands during trading, a decline of 82% from the average daily volume of 1,533,990 shares. The stock had previously closed at $20.65.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price target on shares of GDS in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.47.

GDS Stock Up 7.6 %

The business’s 50 day simple moving average is $20.81 and its 200 day simple moving average is $16.59. The company has a market capitalization of $4.23 billion, a PE ratio of -7.28 and a beta of 0.19. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bamco Inc. NY grew its stake in GDS by 128.6% during the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after acquiring an additional 3,397,592 shares in the last quarter. Baupost Group LLC MA boosted its holdings in shares of 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. Sachem Head Capital Management LP grew its position in GDS by 161.6% during the third quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock valued at $57,630,000 after purchasing an additional 1,745,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in GDS in the 3rd quarter valued at approximately $27,212,000. Finally, Portolan Capital Management LLC purchased a new stake in GDS in the 3rd quarter worth approximately $26,572,000. 33.71% of the stock is owned by institutional investors and hedge funds.

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.