Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month High – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares hit a new 52-week high on Thursday . The stock traded as high as $21.95 and last traded at $21.84, with a volume of 1204829 shares traded. The stock had previously closed at $19.33.

Analysts Set New Price Targets

A number of research firms have recently commented on KC. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Trading Up 2.5 %

The stock has a market cap of $5.24 billion, a PE ratio of -17.23 and a beta of 2.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50-day moving average price is $12.61 and its 200 day moving average price is $6.88.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in shares of Kingsoft Cloud in the fourth quarter worth $119,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth $125,000. Cetera Investment Advisers purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth $138,000. SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $47,000. Finally, Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares during 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.