GDS (NASDAQ:GDS) Trading Up 6%

Shares of GDS Holdings Limited (NASDAQ:GDS) traded up 6% during trading on Thursday . The stock traded as high as $6.79 and last traded at $6.71. 425,776 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,823,613 shares. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

GDS has been the topic of several research analyst reports. StockNews.com upgraded GDS to a “sell” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. dropped their target price on GDS from $12.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.69.

GDS Stock Performance

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average price is $6.62 and its 200 day moving average price is $8.74. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -2.01 and a beta of 0.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in GDS by 16.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,404,486 shares of the company’s stock worth $49,289,000 after acquiring an additional 773,378 shares during the last quarter. Bank of America Corp DE lifted its holdings in GDS by 26.1% during the 1st quarter. Bank of America Corp DE now owns 1,970,537 shares of the company’s stock worth $36,770,000 after purchasing an additional 407,742 shares during the last quarter. Cerity Partners LLC grew its holdings in GDS by 1.3% in the 4th quarter. Cerity Partners LLC now owns 1,891,807 shares of the company’s stock valued at $39,009,000 after buying an additional 24,010 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in GDS by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,696,842 shares of the company’s stock worth $15,475,000 after buying an additional 66,456 shares during the period. Finally, Toronado Partners LLC lifted its holdings in shares of GDS by 56.9% during the first quarter. Toronado Partners LLC now owns 839,688 shares of the company’s stock worth $32,958,000 after buying an additional 304,363 shares in the last quarter. 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.