GDS (NASDAQ:GDS) Shares Gap Up - What's Next?

Key Points

• GDS Holdings shares gapped up, opening at $40.16 after a previous close of $37.63, and last traded at $41.37 with a volume of 1,667,809 shares.
• Analysts have revised their ratings on GDS, with Bank of America setting a new price target of $50.60 and JMP Securities raising theirs to $50.00, indicating a positive outlook.
• A significant move was observed from institutional investors, with Brooklyn Investment Group increasing its holdings by 2,390.0% and Huntington National Bank increasing its stake by 83,700.0% recently.

GDS Holdings (NASDAQ:GDS - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $37.63, but opened at $40.16. GDS shares last traded at $41.37, with a volume of 1,667,809 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GDS shares. Bank of America upped their price objective on shares of GDS from $47.60 to $50.60 and gave the stock a "buy" rating in a report on Friday, August 22nd. JMP Securities upped their target price on shares of GDS from $40.00 to $50.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 21st. BMO Capital Markets upgraded shares of GDS to a "market perform" rating in a research note on Wednesday, July 16th. Zacks Research downgraded shares of GDS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Daiwa Capital Markets reiterated a "buy" rating on shares of GDS in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.93.

GDS Stock Performance

The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.71. The business's 50 day moving average is $35.43 and its 200 day moving average is $29.99. The stock has a market capitalization of $8.07 billion, a PE ratio of 12.49 and a beta of 0.34.

Institutional Investors Weigh In On GDS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDS. Brooklyn Investment Group raised its holdings in shares of GDS by 2,390.0% in the 1st quarter. Brooklyn Investment Group now owns 996 shares of the company's stock valued at $25,000 after purchasing an additional 956 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of GDS in the 1st quarter valued at about $25,000. NewEdge Advisors LLC bought a new stake in shares of GDS in the 1st quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in shares of GDS in the 1st quarter valued at about $26,000. Finally, Huntington National Bank raised its holdings in shares of GDS by 83,700.0% in the 2nd quarter. Huntington National Bank now owns 838 shares of the company's stock valued at $26,000 after purchasing an additional 837 shares in the last quarter. 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.

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