GDS (NASDAQ:GDS) Trading 4.4% Higher - Here's Why

GDS Holdings Limited (NASDAQ:GDS - Get Free Report) was up 4.4% on Wednesday . The stock traded as high as $22.12 and last traded at $21.95. Approximately 198,719 shares changed hands during trading, a decline of 88% from the average daily volume of 1,619,371 shares. The stock had previously closed at $21.02.

Wall Street Analysts Forecast Growth

GDS has been the topic of a number of research reports. Bank of America boosted their price objective on GDS from $12.40 to $22.40 and gave the stock a "buy" rating in a research report on Tuesday, August 27th. Nomura Securities upgraded GDS to a "strong-buy" rating in a report on Monday, August 26th. Finally, Royal Bank of Canada raised their price objective on shares of GDS from $14.00 to $26.00 and gave the company an "outperform" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.29.

GDS Price Performance

The stock has a market cap of $4.19 billion, a P/E ratio of -6.84 and a beta of 0.24. The business has a 50-day simple moving average of $17.40 and a 200 day simple moving average of $11.94. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.30.

GDS (NASDAQ:GDS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.07. The company had revenue of $388.92 million for the quarter, compared to analyst estimates of $384.14 million. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. On average, analysts forecast that GDS Holdings Limited will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On GDS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in GDS in the fourth quarter valued at approximately $107,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of GDS during the 2nd quarter valued at $108,000. Capstone Investment Advisors LLC bought a new position in GDS during the first quarter worth $188,000. Marshall Wace LLP acquired a new stake in GDS in the second quarter worth $203,000. Finally, Headlands Technologies LLC acquired a new stake in GDS in the second quarter worth $256,000. 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.