GDS (NASDAQ:GDS) Shares Gap Up - Here's What Happened

GDS Holdings Limited (NASDAQ:GDS - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $25.68, but opened at $26.93. GDS shares last traded at $26.35, with a volume of 676,565 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on GDS shares. Royal Bank of Canada restated an "outperform" rating and issued a $26.00 target price on shares of GDS in a research report on Wednesday, January 29th. Citizens Jmp upgraded shares of GDS to a "strong-buy" rating in a report on Monday, January 27th. StockNews.com raised shares of GDS from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, JMP Securities began coverage on shares of GDS in a research note on Monday, January 27th. They issued an "outperform" rating and a $35.00 price target for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, GDS presently has an average rating of "Buy" and an average target price of $22.60.

GDS Trading Up 1.5 %

The firm's 50 day moving average is $21.92 and its 200 day moving average is $19.23. 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 $4.97 billion, a PE ratio of -8.55 and a beta of 0.12.

Hedge Funds Weigh In On GDS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in shares of GDS by 17.3% during the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company's stock valued at $168,000 after buying an additional 1,215 shares in the last quarter. Blue Trust Inc. lifted its position in GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company's stock valued at $51,000 after acquiring an additional 2,353 shares during the period. BNP Paribas Financial Markets boosted its stake in GDS by 1.4% during the third quarter. BNP Paribas Financial Markets now owns 182,388 shares of the company's stock worth $3,721,000 after acquiring an additional 2,543 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in GDS in the third quarter worth about $64,000. Finally, Macroview Investment Management LLC increased its stake in shares of GDS by 37.4% during the fourth quarter. Macroview Investment Management LLC now owns 18,550 shares of the company's stock valued at $441,000 after purchasing an additional 5,050 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.