GDS (NASDAQ:GDS) Reaches New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDS. JMP Securities assumed coverage on shares of GDS in a research note on Monday, January 27th. They set an “outperform” rating and a $35.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price objective on shares of GDS in a research report on Wednesday, January 29th. StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Citizens Jmp upgraded GDS to a “strong-buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $22.60.

GDS Stock Up 7.2 %

The stock’s 50 day simple moving average is $22.50 and its two-hundred day simple moving average is $19.66. The firm has a market cap of $5.57 billion, a P/E ratio of -9.59 and a beta of 0.12. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its holdings in GDS by 128.6% in the third quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after acquiring an additional 3,397,592 shares in the last quarter. Sachem Head Capital Management LP raised its position in shares of GDS by 161.6% in the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after purchasing an additional 1,745,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in GDS in the 3rd quarter worth about $27,212,000. Portolan Capital Management LLC purchased a new stake in GDS during the 3rd quarter valued at about $26,572,000. Finally, Pacer Advisors Inc. increased its stake in GDS by 26.5% during the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock valued at $21,360,000 after purchasing an additional 188,072 shares in the last quarter. Institutional investors own 33.71% of the company’s stock.

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.