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

GDS Holdings Limited (NASDAQ:GDS) shares gapped up before the market opened on Monday . The stock had previously closed at $20.73, but opened at $22.50. GDS shares last traded at $22.24, with a volume of 303,009 shares trading hands.

Wall Street Analyst Weigh In

GDS has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of GDS in a research note on Thursday, December 5th. Bank of America lifted their target price on shares of GDS from $12.40 to $22.40 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.47.

GDS Stock Performance

The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $3.98 billion, a P/E ratio of -6.85 and a beta of 0.19. The business’s fifty day simple moving average is $21.20 and its 200-day simple moving average is $15.62.

Institutional Trading of GDS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY increased its holdings in shares of GDS by 128.6% in the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock worth $123,227,000 after buying an additional 3,397,592 shares during the last quarter. Baupost Group LLC MA increased its holdings in shares of GDS by 63.5% in the 2nd quarter. Baupost Group LLC MA now owns 4,249,952 shares of the company’s stock worth $39,482,000 after buying an additional 1,649,952 shares during the last quarter. Sachem Head Capital Management LP increased its holdings in shares of GDS by 161.6% in the 3rd quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after buying an additional 1,745,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GDS in the 3rd quarter worth about $27,212,000. Finally, Portolan Capital Management LLC bought a new stake in shares of GDS in the 3rd quarter worth about $26,572,000. 33.71% of the stock is currently owned by institutional investors.

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.