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

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 Analysts Forecast Growth

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

GDS Price Performance

The business’s fifty day simple moving average is $21.02 and its 200 day simple moving average is $17.31. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -8.33 and a beta of 0.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of GDS by 1,558.3% during the third quarter. Blue Trust Inc. now owns 2,504 shares of the company’s stock worth $51,000 after purchasing an additional 2,353 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in GDS during the third quarter valued at $64,000. Signaturefd LLC raised 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. Brookfield Corp ON bought a new position in shares of GDS in the 3rd quarter worth about $171,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of GDS in the 2nd quarter valued at about $108,000. Hedge funds and other 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.