Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.92, but opened at $10.10. Kingsoft Cloud shares last traded at $10.01, with a volume of 1,378,954 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on KC. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $5.90 and its two-hundred day moving average price is $3.77. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -8.10 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC bought a new stake in shares of Kingsoft Cloud in the second quarter valued at approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $47,000. Blue Trust Inc. grew its holdings in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the period. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud in the third quarter valued at about $119,000. 13.40% of the stock is owned by 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.