GDS (NASDAQ:GDS) Trading Up 3.6% – Time to Buy?

GDS Holdings Limited (NASDAQ:GDS)’s stock price was up 3.6% during trading on Tuesday . The stock traded as high as $33.51 and last traded at $32.97. 1,048,941 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,372,792 shares. The stock had previously closed at $31.84.

Analysts Set New Price Targets

GDS has been the topic of several research analyst reports. JMP Securities started coverage on shares of GDS in a research report on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective on the stock. Daiwa Capital Markets raised GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. StockNews.com lowered shares of GDS from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James lifted their target price on shares of GDS from $25.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group lowered GDS from a “buy” rating to a “hold” rating and upped their target price for the stock from $27.06 to $45.00 in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.23.

GDS Stock Up 11.4 %

The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -11.53 and a beta of 0.06. 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 firm has a fifty day moving average price of $28.34 and a 200 day moving average price of $22.75.

Hedge Funds Weigh In On GDS

Several institutional investors have recently modified their holdings of GDS. Public Employees Retirement System of Ohio acquired a new stake in shares of GDS during the third quarter worth about $64,000. PNC Financial Services Group Inc. increased its position in shares of GDS by 26.8% during the fourth 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 in the last quarter. Wells Fargo & Company MN raised its holdings in shares of GDS by 1,904.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company’s stock worth $90,000 after acquiring an additional 3,599 shares during the period. Blue Trust Inc. lifted its position in GDS by 121.9% in the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after acquiring an additional 3,053 shares in the last quarter. Finally, Brookfield Corp ON bought a new position in GDS during the 3rd quarter worth about $171,000. 33.71% of the stock is currently 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.