GDS (NASDAQ:GDS) Reaches New 1-Year High – Here’s Why

GDS Holdings Limited (NASDAQ:GDS) hit a new 52-week high on Monday . The stock traded as high as $26.20 and last traded at $25.08, with a volume of 283209 shares traded. The stock had previously closed at $24.05.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price objective on shares of GDS in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.47.

GDS Price Performance

The business’s 50-day simple moving average is $21.19 and its 200 day simple moving average is $17.56. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $5.04 billion, a P/E ratio of -8.68 and a beta of 0.18.

Institutional Investors Weigh In On GDS

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of GDS by 1,558.3% in the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after buying an additional 2,353 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in GDS in the third quarter worth about $64,000. Vanguard Personalized Indexing Management LLC bought a new stake in GDS in the second quarter worth about $108,000. Signaturefd LLC lifted its holdings in GDS by 17.3% in the 3rd quarter. Signaturefd LLC now owns 8,221 shares of the company’s stock valued at $168,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Brookfield Corp ON bought a new position in shares of GDS during the 3rd quarter valued at about $171,000. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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.