Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.08, but opened at $4.29. Kingsoft Cloud shares last traded at $4.56, with a volume of 596,671 shares trading hands.

Analyst Ratings Changes

Separately, Bank of America dropped their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud presently has an average rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50 day moving average price of $2.91 and a 200 day moving average price of $2.80.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $260.32 million during the quarter, compared to analysts’ expectations of $251.17 million. Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. As a group, research analysts expect that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

A number of institutional investors have recently made changes to their positions in KC. Swedbank AB bought a new stake in Kingsoft Cloud during the first quarter valued at approximately $649,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Kingsoft Cloud in the 3rd quarter worth $326,000. GSA Capital Partners LLP lifted its position in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after purchasing an additional 81,751 shares in the last quarter. XY Capital Ltd purchased a new stake in Kingsoft Cloud in the third quarter worth about $214,000. Finally, Sei Investments Co. lifted its position in shares of Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares in the last quarter. Hedge funds and other institutional investors own 13.40% of the company’s stock.

About Kingsoft Cloud

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.