GDS (NASDAQ:GDS) Shares Gap Up - Here's Why

GDS Holdings (NASDAQ:GDS - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $35.00, but opened at $39.25. GDS shares last traded at $38.36, with a volume of 2,619,456 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on GDS shares. Daiwa Capital Markets reiterated a "buy" rating on shares of GDS in a research report on Wednesday, May 28th. Raymond James Financial upgraded GDS from an "outperform" rating to a "strong-buy" rating and set a $53.00 target price for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. upgraded GDS from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $34.00 to $46.00 in a research report on Wednesday. Citigroup restated an "outperform" rating on shares of GDS in a report on Thursday, March 20th. Finally, BMO Capital Markets upgraded GDS to a "market perform" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $40.57.

GDS Stock Down 1.0%

The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.62. The stock has a market cap of $7.16 billion, a PE ratio of 11.53 and a beta of 0.31. The business has a 50 day moving average price of $28.82 and a 200 day moving average price of $28.16.

GDS (NASDAQ:GDS - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.70. The firm had revenue of $375.14 million for the quarter, compared to the consensus estimate of $2.72 billion. GDS had a return on equity of 0.78% and a net margin of 39.90%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.96) earnings per share. Equities research analysts expect that GDS Holdings will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On GDS

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of GDS by 1,678.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,900 shares of the company's stock valued at $1,663,000 after purchasing an additional 62,194 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GDS in the fourth quarter valued at approximately $2,373,000. SG Americas Securities LLC acquired a new stake in shares of GDS in the first quarter valued at approximately $523,000. American Century Companies Inc. increased its holdings in shares of GDS by 509.6% in the fourth quarter. American Century Companies Inc. now owns 2,323,482 shares of the company's stock valued at $55,206,000 after purchasing an additional 1,942,341 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in GDS by 28.7% in the fourth quarter. Hsbc Holdings PLC now owns 242,948 shares of the company's stock worth $5,772,000 after acquiring an additional 54,160 shares during the period. 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.