Kingsoft Cloud (NASDAQ:KC) Trading Up 6.5% – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price was up 6.5% during trading on Thursday . The company traded as high as $17.14 and last traded at $16.63. Approximately 1,441,312 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 2,993,147 shares. The stock had previously closed at $15.61.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KC shares. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 10.0 %

The stock has a fifty day simple moving average of $10.12 and a two-hundred day simple moving average of $5.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.36 billion, a PE ratio of -14.32 and a beta of 2.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $47,000. Blue Trust Inc. boosted its stake in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares in the last quarter. Yeomans Consulting Group Inc. bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth approximately $318,000. Finally, Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth approximately $119,000. 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.