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

GDS Holdings Limited (NASDAQ:GDS)’s share price was up 7.4% during mid-day trading on Wednesday . The stock traded as high as $19.64 and last traded at $19.60. Approximately 146,722 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,606,525 shares. The stock had previously closed at $18.25.

Analysts Set New Price Targets

GDS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Nomura Securities upgraded GDS to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Bank of America upped their target price on GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Trading Up 7.1 %

The business’s 50 day simple moving average is $21.21 and its 200 day simple moving average is $14.96. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -6.41 and a beta of 0.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new stake in shares of GDS during the first quarter worth $2,174,000. Headlands Technologies LLC acquired a new stake in shares of GDS in the 2nd quarter worth $256,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of GDS in the second quarter valued at about $108,000. Pacer Advisors Inc. increased its stake in shares of GDS by 17.3% during the second quarter. Pacer Advisors Inc. now owns 849,568 shares of the company’s stock worth $7,892,000 after acquiring an additional 125,395 shares during the period. Finally, Baupost Group LLC MA raised its holdings in GDS by 63.5% during the second quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after purchasing an additional 1,649,952 shares in the last quarter. 33.71% of the stock is currently owned by hedge funds and other 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.