Kingsoft Cloud (NASDAQ:KC) Shares Up 6.1% – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares shot up 6.1% during trading on Monday . The stock traded as high as $18.29 and last traded at $18.36. 1,557,775 shares traded hands during trading, a decline of 58% from the average session volume of 3,690,495 shares. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

Several research firms have commented on KC. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group upgraded 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 report on Friday, December 6th. Finally, Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Kingsoft Cloud Price Performance

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 company has a market capitalization of $4.62 billion, a PE ratio of -15.22 and a beta of 2.23. The stock’s 50-day moving average is $14.81 and its two-hundred day moving average is $8.50.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently modified their holdings of KC. GSA Capital Partners LLP boosted its stake in shares of Kingsoft Cloud by 90.2% during 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. acquired a new stake in Kingsoft Cloud in the third quarter valued at approximately $326,000. Walleye Capital LLC acquired a new stake in Kingsoft Cloud in the third quarter valued at approximately $119,000. State Street Corp boosted its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors.

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.