GDS (NASDAQ:GDS) Shares Gap Up to $15.59

GDS Holdings Limited (NASDAQ:GDS – Get Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.59, but opened at $16.11. GDS shares last traded at $16.46, with a volume of 566,055 shares trading hands.

Wall Street Analysts Forecast Growth

GDS has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of GDS in a report on Thursday. They issued a “sell” rating for the company. Truist Financial decreased their price objective on shares of GDS from $75.00 to $50.00 in a report on Wednesday, November 23rd. Citigroup increased their price objective on shares of GDS from $34.00 to $35.50 in a report on Monday, February 20th. Royal Bank of Canada cut their target price on shares of GDS from $22.00 to $15.00 in a research note on Tuesday, November 29th. Finally, HSBC cut their target price on shares of GDS from $39.00 to $36.00 in a research note on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.11.

GDS Trading Up 1.8 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.04 billion, a PE ratio of -11.68 and a beta of 0.69. The company’s 50-day moving average is $21.65 and its 200 day moving average is $18.98.

Institutional Investors Weigh In On GDS

Several hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its position in GDS by 148.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,590 shares of the company’s stock worth $33,000 after buying an additional 951 shares in the last quarter. Parallel Advisors LLC lifted its position in GDS by 94.3% in the 4th quarter. Parallel Advisors LLC now owns 1,929 shares of the company’s stock worth $40,000 after buying an additional 936 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in GDS in the 4th quarter worth approximately $41,000. Advisor Group Holdings Inc. lifted its position in GDS by 71.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,795 shares of the company’s stock worth $57,000 after buying an additional 1,163 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in GDS in the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 42.64% of the company’s stock.

GDS Company Profile

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GDS Holdings Ltd. engages in developing and operating data centers in China. It builds, operates, and transfers data centers at other locations. Its data centers are carrier and cloud-neutral, which enable customers to connect to major telecommunications carriers, and to access a number of cloud service providers.