GDS (NASDAQ:GDS) Trading Up 10% – Still a Buy?

GDS Holdings Limited (NASDAQ:GDS)’s share price traded up 10% during mid-day trading on Friday . The stock traded as high as $23.20 and last traded at $23.36. 436,828 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,804,357 shares. The stock had previously closed at $21.23.

Analyst Ratings Changes

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

GDS Stock Up 7.3 %

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’s fifty day simple moving average is $21.54 and its two-hundred day simple moving average is $18.67. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -7.47 and a beta of 0.13.

Institutional Trading of GDS

A number of large investors have recently added to or reduced their stakes in GDS. abrdn plc boosted its stake in shares of GDS by 5.4% during the 4th quarter. abrdn plc now owns 279,800 shares of the company’s stock worth $6,648,000 after acquiring an additional 14,300 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of GDS by 26.5% during the fourth quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock valued at $21,360,000 after purchasing an additional 188,072 shares during the last quarter. Blue Trust Inc. boosted its position in shares of GDS by 121.9% in the 4th quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock valued at $132,000 after purchasing an additional 3,053 shares during the period. JPMorgan Chase & Co. increased its stake in GDS by 7,553.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock worth $12,461,000 after purchasing an additional 602,840 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in GDS during the 3rd quarter worth about $842,000. 33.71% of the stock is currently 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.