GDS (NASDAQ:GDS) Trading Up 17.5% - Here's What Happened

Shares of GDS Holdings Limited (NASDAQ:GDS - Get Free Report) were up 17.5% during mid-day trading on Monday . The company traded as high as $24.92 and last traded at $25.51. Approximately 1,329,768 shares changed hands during trading, a decline of 31% from the average daily volume of 1,929,934 shares. The stock had previously closed at $21.71.

Wall Street Analysts Forecast Growth

GDS has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of GDS from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. Royal Bank of Canada restated an "outperform" rating and set a $26.00 price target 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. Finally, JMP Securities began coverage on GDS in a report on Monday, January 27th. They set an "outperform" rating and a $35.00 target price on the stock. Two 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. According to MarketBeat.com, GDS currently has an average rating of "Buy" and a consensus target price of $22.60.

GDS Price Performance

The company has a market cap of $4.97 billion, a price-to-earnings ratio of -8.55 and a beta of 0.12. The company's 50 day moving average price is $21.92 and its 200-day moving average price is $19.23. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in GDS during the second quarter valued at approximately $203,000. Creative Planning increased its stake in shares of GDS by 10.3% in the second quarter. Creative Planning now owns 99,850 shares of the company's stock worth $928,000 after acquiring an additional 9,332 shares during the last quarter. Swedbank AB raised its holdings in shares of GDS by 3.7% during the third quarter. Swedbank AB now owns 338,974 shares of the company's stock worth $6,915,000 after acquiring an additional 12,100 shares in the last quarter. Blue Trust Inc. grew its stake in GDS by 1,558.3% in the third quarter. Blue Trust Inc. now owns 2,504 shares of the company's stock valued at $51,000 after purchasing an additional 2,353 shares in the last quarter. Finally, Signaturefd LLC increased its position in GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company's stock worth $168,000 after purchasing an additional 1,215 shares during the last quarter. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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.