GDS (NASDAQ:GDS) Hits New 12-Month High – What’s Next?

GDS Holdings Limited (NASDAQ:GDS)’s share price reached a new 52-week high on Tuesday . The company traded as high as $29.73 and last traded at $29.25, with a volume of 2701616 shares trading hands. The stock had previously closed at $27.28.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JMP Securities began coverage on GDS in a report on Monday, January 27th. They set an “outperform” rating and a $35.00 price objective for the company. StockNews.com upgraded GDS from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price objective on shares of GDS in a report on Wednesday, January 29th. Finally, Citizens Jmp upgraded GDS to a “strong-buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, GDS has a consensus rating of “Buy” and a consensus price target of $22.60.

GDS Stock Up 7.2 %

The company has a market cap of $5.57 billion, a PE ratio of -9.59 and a beta of 0.12. The stock’s 50 day moving average price is $22.50 and its 200-day moving average price is $19.66. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDS. Bamco Inc. NY boosted its holdings in GDS by 128.6% during the 3rd quarter. Bamco Inc. NY now owns 6,040,555 shares of the company’s stock valued at $123,227,000 after acquiring an additional 3,397,592 shares during the period. Sachem Head Capital Management LP grew its stake in shares of GDS by 161.6% in the third quarter. Sachem Head Capital Management LP now owns 2,825,000 shares of the company’s stock worth $57,630,000 after purchasing an additional 1,745,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GDS during the 3rd quarter valued at about $27,212,000. Portolan Capital Management LLC bought a new position in GDS during the 3rd quarter valued at approximately $26,572,000. Finally, Pacer Advisors Inc. lifted its holdings in GDS by 26.5% in the 4th quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after buying an additional 188,072 shares during the period. 33.71% of the stock is owned by institutional investors.

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.