Kingsoft Cloud (NASDAQ:KC) Hits New 1-Year High – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price reached a new 52-week high on Saturday . The stock traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares changing hands. The stock had previously closed at $8.40.

Analysts Set New Price Targets

KC has been the subject of several recent analyst reports. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kingsoft Cloud has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Up 14.0 %

The stock’s fifty day moving average price is $5.52 and its 200 day moving average price is $3.64. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.98 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC lifted its stake in 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 acquiring an additional 24,932 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Kingsoft Cloud in the 2nd quarter worth approximately $27,000. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $47,000. Finally, Blue Trust Inc. increased its holdings in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the period. 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.