Kingsoft Cloud (NASDAQ:KC) Sets New 12-Month High – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) hit a new 52-week high on Monday . The company traded as high as $7.55 and last traded at $7.55, with a volume of 104055 shares. The stock had previously closed at $6.69.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target 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 report on Friday, November 22nd. Finally, Bank of America cut 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 research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kingsoft Cloud currently has a consensus rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Price Performance

The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -5.58 and a beta of 2.00. The company has a 50-day moving average price of $3.86 and a 200-day moving average price of $3.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently made changes to their positions in KC. Profund Advisors LLC acquired a new stake in Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. acquired a new stake in shares of Kingsoft Cloud during the second quarter worth $36,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud in the 3rd quarter valued at $47,000. Headlands Technologies LLC lifted its position in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud in the 3rd quarter worth $119,000. 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.