GDS (NASDAQ:GDS) Shares Gap Up – Here’s What Happened

GDS Holdings Limited (NASDAQ:GDS) gapped up before the market opened on Thursday . The stock had previously closed at $19.92, but opened at $20.70. GDS shares last traded at $20.78, with a volume of 873,227 shares changing hands.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price target on shares of GDS in a report on Thursday, December 5th. One research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.47.

GDS Price Performance

The stock’s 50 day moving average price is $21.54 and its two-hundred day moving average price is $18.58. 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 stock has a market cap of $3.98 billion, a price-to-earnings ratio of -6.85 and a beta of 0.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GDS. Signaturefd LLC grew its holdings in shares of GDS by 17.3% during 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 during the period. Blue Trust Inc. grew its holdings in shares of GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after purchasing an additional 2,353 shares during the period. BNP Paribas Financial Markets increased its holdings in GDS by 1.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 182,388 shares of the company’s stock valued at $3,721,000 after purchasing an additional 2,543 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in GDS in the 3rd quarter valued at approximately $64,000. Finally, Centiva Capital LP increased its holdings in GDS by 49.5% in the 3rd quarter. Centiva Capital LP now owns 23,479 shares of the company’s stock valued at $479,000 after purchasing an additional 7,772 shares during the last quarter. Hedge funds and other institutional investors 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.