GDS (NASDAQ:GDS) Shares Gap Up – Should You Buy?

GDS Holdings Limited (NASDAQ:GDS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $21.89, but opened at $23.36. GDS shares last traded at $22.68, with a volume of 362,021 shares traded.

Analysts Set New Price Targets

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

GDS Stock Down 3.4 %

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 stock’s fifty day moving average is $21.62 and its two-hundred day moving average is $18.13.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in GDS by 7,553.4% in the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after purchasing an additional 602,840 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of GDS during the 3rd quarter valued at approximately $842,000. Geode Capital Management LLC boosted its stake in shares of GDS by 20.5% during the 3rd quarter. Geode Capital Management LLC now owns 77,057 shares of the company’s stock valued at $1,572,000 after buying an additional 13,121 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of GDS during the third quarter worth approximately $64,000. Finally, Luxor Capital Group LP bought a new stake in shares of GDS in the third quarter worth $9,993,000. 33.71% of the stock is owned by hedge funds and other institutional investors.

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.