GDS (NASDAQ:GDS) Coverage Initiated at Macquarie

Macquarie started coverage on shares of GDS (NASDAQ:GDS) in a report issued on Thursday, MarketBeat reports. The brokerage set an “outperform” rating on the stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of GDS in a research report on Wednesday, October 8th. Zacks Research downgraded GDS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Bank of America raised their price target on GDS from $47.60 to $50.60 and gave the stock a “buy” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. raised GDS from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $34.00 to $46.00 in a research report on Wednesday, July 16th. Finally, BMO Capital Markets upgraded GDS to a “market perform” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.90.

GDS Trading Down 3.2%

Shares of GDS opened at $32.84 on Thursday. The company’s fifty day simple moving average is $36.29 and its 200-day simple moving average is $32.38. The company has a market cap of $6.26 billion, a P/E ratio of 9.72 and a beta of 0.37. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.71. GDS has a twelve month low of $16.92 and a twelve month high of $52.50.

Hedge Funds Weigh In On GDS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDS. Canada Pension Plan Investment Board increased its stake in shares of GDS by 77.7% in the second quarter. Canada Pension Plan Investment Board now owns 7,004,083 shares of the company’s stock worth $214,115,000 after purchasing an additional 3,062,658 shares during the period. Aspex Management HK Ltd boosted its position in shares of GDS by 46.4% in the second quarter. Aspex Management HK Ltd now owns 4,406,949 shares of the company’s stock valued at $134,720,000 after acquiring an additional 1,397,073 shares during the period. Light Street Capital Management LLC bought a new stake in shares of GDS in the second quarter valued at approximately $21,845,000. Norges Bank acquired a new stake in shares of GDS in the second quarter worth $18,342,000. Finally, MY.Alpha Management HK Advisors Ltd bought a new position in GDS during the second quarter worth $14,273,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

GDS Company Profile

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.