GDS (NASDAQ:GDS) Sets New 12-Month High – Here’s Why

GDS Holdings Limited (NASDAQ:GDS) hit a new 52-week high on Thursday . The company traded as high as $24.56 and last traded at $24.48, with a volume of 1223807 shares. The stock had previously closed at $21.30.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GDS shares. Bank of America increased their price target on shares of GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Royal Bank of Canada increased their target price on GDS from $14.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Nomura Securities raised GDS to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GDS presently has an average rating of “Moderate Buy” and a consensus price target of $18.29.

GDS Price Performance

The firm’s 50 day simple moving average is $19.98 and its two-hundred day simple moving average is $13.56. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $4.60 billion, a P/E ratio of -7.57 and a beta of 0.23.

GDS (NASDAQ:GDS) last released its earnings results on Wednesday, August 21st. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. The company had revenue of $388.92 million during the quarter, compared to analyst estimates of $384.14 million. As a group, analysts predict that GDS Holdings Limited will post -1.14 earnings per share for the current year.

Institutional Investors Weigh In On GDS

A number of large investors have recently added to or reduced their stakes in GDS. Signaturefd LLC boosted its holdings in shares of GDS by 17.3% during the third 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. raised its position in GDS by 1,558.3% during the 3rd quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock valued at $51,000 after purchasing an additional 2,353 shares during the last quarter. Creative Planning lifted its holdings in GDS by 10.3% in the 2nd quarter. Creative Planning now owns 99,850 shares of the company’s stock worth $928,000 after buying an additional 9,332 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of GDS in the 2nd quarter worth approximately $108,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of GDS during the third quarter valued at approximately $245,000. Institutional investors own 33.71% of the company’s stock.

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.