GDS (NASDAQ:GDS) Stock Price Up 10% – Here’s Why

GDS Holdings Limited (NASDAQ:GDS)’s stock price traded up 10% on Friday . The company traded as high as $23.20 and last traded at $23.36. 436,828 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,804,357 shares. The stock had previously closed at $21.23.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $26.00 target price on shares of GDS in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GDS currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

GDS Trading Up 10.9 %

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 has a market capitalization of $4.48 billion, a P/E ratio of -7.70 and a beta of 0.13. The business has a 50 day moving average price of $21.52 and a 200 day moving average price of $18.59.

Hedge Funds Weigh In On GDS

Large investors have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after buying an additional 2,353 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in GDS during the third quarter worth $64,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of GDS in the second quarter valued at approximately $108,000. Signaturefd LLC grew 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 in the last quarter. Finally, Brookfield Corp ON bought a new position in GDS during the third quarter valued at about $171,000. Institutional investors 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.