GDS (NASDAQ:GDS) Shares Up 8.2% – Here’s Why

GDS Holdings (NASDAQ:GDS)’s stock price was up 8.2% on Tuesday. The stock traded as high as $31.67 and last traded at $31.70. Approximately 1,570,394 shares were traded during trading, a decline of 24% from the average daily volume of 2,061,165 shares. The stock had previously closed at $29.29.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and set a $51.00 target price on shares of GDS in a research note on Tuesday, September 1st. Wall Street Zen raised GDS from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of GDS in a research report on Thursday, August 13th. Finally, Zacks Research cut GDS from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

GDS Stock Down 4.1%

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $6.08 billion, a PE ratio of 14.11 and a beta of 0.42. The company has a fifty day moving average price of $32.11 and a 200-day moving average price of $35.35.

GDS (NASDAQ:GDS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.52 earnings per share for the quarter. GDS had a net margin of 30.70% and a return on equity of 17.94%. The company had revenue of $454.51 million for the quarter. As a group, analysts expect that GDS Holdings will post 2.23 earnings per share for the current year.

Institutional Trading of GDS

A number of institutional investors have recently bought and sold shares of the stock. Nykredit A S bought a new stake in shares of GDS in the 2nd quarter worth about $63,000. Summit Securities Group LLC purchased a new position in GDS in the first quarter valued at about $65,000. EverSource Wealth Advisors LLC lifted its position in GDS by 73.5% during the first quarter. EverSource Wealth Advisors LLC now owns 2,160 shares of the company’s stock valued at $87,000 after acquiring an additional 915 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of GDS in the 1st quarter worth $132,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of GDS by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the company’s stock worth $157,000 after acquiring an additional 303 shares during the last quarter. 33.71% of the stock is currently owned by institutional investors.

About GDS

GDS Holdings Limited (NASDAQ: GDS) is a developer and operator of data centers. The company provides data center infrastructure and related services to cloud service providers, internet companies, financial institutions, telecommunications carriers and multinational corporations.

Its services include wholesale and retail colocation, managed data center services, interconnection and cloud connectivity. GDS designs, builds and operates facilities intended to support customers’ critical information technology infrastructure, including cloud computing, data storage and other high-performance computing requirements.

Founded in 2001, GDS has historically focused on serving customers in China through data centers in major economic and technology centers.