GDS (NASDAQ:GDS) Shares Up 7.4% – Time to Buy?

GDS Holdings Limited (NASDAQ:GDS) shares shot up 7.4% on Monday . The company traded as high as $29.08 and last traded at $29.31. 1,248,934 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 2,039,759 shares. The stock had previously closed at $27.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JMP Securities initiated coverage on GDS in a research note on Monday, January 27th. They set an “outperform” rating and a $35.00 price target for the company. Daiwa Capital Markets raised GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday. StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price objective on shares of GDS in a report on Wednesday, January 29th. Finally, Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, GDS has an average rating of “Buy” and an average target price of $22.60.

GDS Price Performance

The stock has a market cap of $6.56 billion, a P/E ratio of -11.29 and a beta of 0.12. The business has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $19.96. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDS. Geode Capital Management LLC lifted its stake in GDS by 25.8% in the fourth quarter. Geode Capital Management LLC now owns 96,933 shares of the company’s stock valued at $2,303,000 after purchasing an additional 19,876 shares during the last quarter. LPL Financial LLC bought a new stake in shares of GDS in the fourth quarter valued at $310,000. American Century Companies Inc. lifted its position in shares of GDS by 509.6% during the 4th quarter. American Century Companies Inc. now owns 2,323,482 shares of the company’s stock valued at $55,206,000 after buying an additional 1,942,341 shares during the last quarter. OPTIMAS CAPITAL Ltd bought a new position in shares of GDS during the 4th quarter worth $4,096,000. Finally, PNC Financial Services Group Inc. increased its holdings in GDS by 26.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock worth $75,000 after acquiring an additional 672 shares during the last quarter. 33.71% of the stock is 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.