Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Wednesday . The stock had previously closed at $13.86, but opened at $14.21. Kingsoft Cloud shares last traded at $14.52, with a volume of 239,936 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KC shares. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Kingsoft Cloud Trading Up 3.7 %

The company has a market cap of $3.65 billion, a price-to-earnings ratio of -12.01 and a beta of 2.23. 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 business’s fifty day simple moving average is $16.23 and its two-hundred day simple moving average is $9.66.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Kingsoft Cloud’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, equities analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently made changes to their positions in KC. Marshall Wace LLP purchased a new position in shares of Kingsoft Cloud in the fourth quarter valued at $119,000. Vise Technologies Inc. purchased a new position in Kingsoft Cloud during the 4th quarter valued at about $125,000. Cetera Investment Advisers purchased a new position in Kingsoft Cloud during the 4th quarter valued at about $138,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $226,000. 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.