GDS (NASDAQ:GDS) Shares Up 7.4% – Here’s What Happened

GDS Holdings (NASDAQ:GDS) rose 7.4% during trading on Thursday . The company traded as high as $41.70 and last traded at $41.2750. Approximately 1,945,152 shares traded hands during trading, an increase of 10% from the average daily volume of 1,763,850 shares. The stock had previously closed at $38.44.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GDS. Weiss Ratings reiterated a “hold (c)” rating on shares of GDS in a report on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating on shares of GDS in a research note on Monday, December 1st. TD Cowen cut their target price on shares of GDS from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. UBS Group set a $55.00 price target on shares of GDS in a report on Monday, December 1st. Finally, Macquarie set a $46.70 price target on shares of GDS in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.70.

GDS Stock Up 10.0%

The company’s 50-day moving average is $34.22 and its two-hundred day moving average is $34.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.51 and a quick ratio of 2.51. The company has a market cap of $7.18 billion, a P/E ratio of 10.63 and a beta of 0.34.

GDS (NASDAQ:GDS) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.51. GDS had a return on equity of 5.17% and a net margin of 49.60%.The company had revenue of $405.28 million for the quarter, compared to analysts’ expectations of $402.81 million. During the same period last year, the firm posted ($0.14) earnings per share. GDS’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that GDS Holdings will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of GDS

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in shares of GDS during the 1st quarter valued at approximately $25,000. NewEdge Advisors LLC purchased a new position in GDS during the first quarter worth $25,000. Huntington National Bank increased its position in GDS by 83,700.0% during the second quarter. Huntington National Bank now owns 838 shares of the company’s stock valued at $26,000 after acquiring an additional 837 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of GDS by 1,123.2% in the 3rd quarter. Assetmark Inc. now owns 685 shares of the company’s stock worth $27,000 after acquiring an additional 629 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of GDS by 165.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,365 shares of the company’s stock worth $53,000 after purchasing an additional 850 shares during the period. Hedge funds and other institutional investors own 33.71% of the company’s stock.

About GDS

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.