GDS (NASDAQ:GDS) Shares Gap Up - Still a Buy?

GDS Holdings Limited (NASDAQ:GDS - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $35.44, but opened at $37.58. GDS shares last traded at $38.87, with a volume of 1,357,689 shares.

Analyst Ratings Changes

A number of research firms have weighed in on GDS. 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 target price on the stock. Royal Bank of Canada lowered shares of GDS from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $26.00 to $37.00 in a research note on Tuesday, February 25th. Citizens Jmp raised shares of GDS to a "strong-buy" rating in a research note on Monday, January 27th. StockNews.com downgraded shares of GDS from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, Raymond James raised their price target on shares of GDS from $25.00 to $53.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.23.

Remove Ads

GDS Price Performance

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 company's fifty day moving average is $29.68 and its two-hundred day moving average is $23.43. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -11.92 and a beta of 0.07.

Institutional Trading of GDS

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in GDS in the 3rd quarter valued at approximately $64,000. PNC Financial Services Group Inc. grew its stake in shares of GDS by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the company's stock worth $75,000 after acquiring an additional 672 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of GDS by 1,904.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company's stock worth $90,000 after acquiring an additional 3,599 shares in the last quarter. Blue Trust Inc. grew its stake in shares of GDS by 121.9% in the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company's stock worth $132,000 after acquiring an additional 3,053 shares in the last quarter. Finally, Brookfield Corp ON acquired a new position in shares of GDS in the third quarter worth $171,000. Institutional investors and hedge funds own 33.71% of the company's stock.

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.