Kingsoft Cloud (NASDAQ:KC) Trading 12.7% Higher – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) traded up 12.7% during mid-day trading on Wednesday . The company traded as high as $6.85 and last traded at $6.73. 1,246,507 shares were traded during trading, a decline of 24% from the average session volume of 1,633,872 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

KC has been the topic of several research reports. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Bank of America decreased their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Up 22.1 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -5.60 and a beta of 2.00. The firm’s 50-day moving average price is $3.58 and its 200 day moving average price is $2.97.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds have recently modified their holdings of the stock. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter worth approximately $27,000. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud in the 2nd quarter worth approximately $36,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the 3rd quarter valued at approximately $47,000. Headlands Technologies LLC boosted its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud during the 3rd quarter valued at approximately $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.