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

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.40, but opened at $8.96. Kingsoft Cloud shares last traded at $8.95, with a volume of 678,091 shares.

Analyst Ratings Changes

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

Kingsoft Cloud Stock Performance

The stock’s 50 day moving average price is $5.52 and its two-hundred day moving average price is $3.63. 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 capitalization of $2.43 billion, a price-to-earnings ratio of -7.98 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth approximately $326,000. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 4,458 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud during the third quarter valued at $47,000. Headlands Technologies LLC raised its stake 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 purchasing an additional 24,932 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Kingsoft Cloud by 90.2% in the 3rd 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. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.