GDS (NASDAQ:GDS) Hits New 52-Week High – Time to Buy?

Shares of GDS Holdings Limited (NASDAQ:GDS) hit a new 52-week high on Tuesday . The company traded as high as $29.73 and last traded at $29.25, with a volume of 2701616 shares changing hands. The stock had previously closed at $27.28.

Analyst Upgrades and Downgrades

GDS has been the subject of several analyst reports. StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of GDS in a research note on Wednesday, January 29th. Daiwa Capital Markets upgraded shares of GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday. Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a report on Monday, January 27th. Finally, JMP Securities began coverage on shares of GDS in a research note on Monday, January 27th. They issued an “outperform” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GDS has an average rating of “Buy” and a consensus price target of $22.60.

GDS Price Performance

The stock has a fifty 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 Investors Weigh In On GDS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the last quarter. Signaturefd LLC increased its holdings 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 acquiring an additional 1,215 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 2,353 shares in the last quarter. BNP Paribas Financial Markets increased its stake in GDS by 1.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 182,388 shares of the company’s stock worth $3,721,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in GDS in the third quarter valued at approximately $64,000. 33.71% of the stock is owned by institutional investors and hedge funds.

GDS Company Profile

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.