Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up prior to trading on Tuesday . The stock had previously closed at $16.30, but opened at $17.35. Kingsoft Cloud shares last traded at $17.46, with a volume of 811,901 shares trading hands.

Analyst Ratings Changes

KC has been the topic of a number of analyst reports. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Kingsoft Cloud currently has an average rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $4.44 billion, a P/E ratio of -14.60 and a beta of 2.23. The stock’s 50 day moving average is $14.57 and its two-hundred day moving average is $8.26.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently bought and sold shares of KC. GSA Capital Partners LLP increased its stake in Kingsoft Cloud by 90.2% in 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud in the third quarter valued at approximately $326,000. Walleye Capital LLC bought a new stake in Kingsoft Cloud in the third quarter valued at approximately $119,000. State Street Corp increased its position in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares in the last quarter. 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.