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

GDS Holdings Limited (NASDAQ:GDS)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $43.01, but opened at $49.65. GDS shares last traded at $50.28, with a volume of 4,259,288 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on GDS shares. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 target price on shares of GDS in a research note on Wednesday, January 29th. Citizens Jmp raised GDS to a “strong-buy” rating in a research note on Monday, January 27th. Daiwa Capital Markets raised GDS from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 11th. JMP Securities began coverage on GDS in a research report on Monday, January 27th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.60.

GDS Trading Up 7.1 %

The firm has a market cap of $8.78 billion, a price-to-earnings ratio of -15.09 and a beta of 0.12. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.25. The company has a 50-day moving average price of $25.13 and a 200 day moving average price of $21.06.

Hedge Funds Weigh In On GDS

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of GDS by 7,553.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after buying an additional 602,840 shares during the period. Alberta Investment Management Corp acquired a new stake in GDS during the fourth quarter valued at $4,935,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GDS in the third quarter valued at about $27,212,000. Pacer Advisors Inc. increased its position in GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after purchasing an additional 188,072 shares during the last quarter. Finally, Luxor Capital Group LP purchased a new stake in shares of GDS during the 3rd quarter worth about $9,993,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

GDS Company Profile

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.