GDS Holdings Limited (NASDAQ:GDS – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $25.68, but opened at $26.93. GDS shares last traded at $26.35, with a volume of 676,565 shares changing hands.
Analyst Ratings Changes
Several research firms recently weighed in on GDS. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price target on shares of GDS in a report on Wednesday, January 29th. StockNews.com upgraded shares of GDS from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. JMP Securities assumed coverage on shares of GDS in a report on Monday, January 27th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Citizens Jmp upgraded shares of GDS to a “strong-buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.60.
GDS Stock Performance
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in GDS by 7,553.4% during the third quarter. JPMorgan Chase & Co. now owns 610,821 shares of the company’s stock valued at $12,461,000 after acquiring an additional 602,840 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in GDS during the third quarter valued at $27,212,000. Luxor Capital Group LP purchased a new stake in GDS during the third quarter valued at $9,993,000. GSA Capital Partners LLP purchased a new stake in GDS during the third quarter valued at $544,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in GDS during the third quarter valued at about $1,001,000. 33.71% of the stock is 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.
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