GDS (NASDAQ:GDS) Shares Gap Up – Still a Buy?

Shares of GDS Holdings Limited (NASDAQ:GDS) gapped up prior to trading on Thursday . The stock had previously closed at $43.01, but opened at $49.65. GDS shares last traded at $50.28, with a volume of 4,259,288 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDS. JMP Securities assumed coverage on shares of GDS in a research note on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price target on shares of GDS in a research note on Wednesday, January 29th. Raymond James upped their price objective on GDS from $25.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com raised shares of GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Citizens Jmp raised shares of GDS to a “strong-buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $28.68.

GDS Trading Down 7.7 %

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The business has a 50 day moving average of $26.17 and a two-hundred day moving average of $21.49. The firm has a market cap of $8.53 billion, a P/E ratio of -14.68 and a beta of 0.12.

Institutional Trading of GDS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bamco Inc. NY raised its holdings in GDS by 128.6% in 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 during the period. American Century Companies Inc. increased its stake in shares of GDS by 509.6% during the fourth quarter. American Century Companies Inc. now owns 2,323,482 shares of the company’s stock worth $55,206,000 after purchasing an additional 1,942,341 shares during the period. Triata Capital Ltd acquired a new stake in GDS during the 4th quarter worth approximately $41,472,000. Sachem Head Capital Management LP boosted its stake in GDS by 161.6% in the 3rd 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in GDS in the 3rd quarter valued at $27,212,000. Institutional investors 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.