Kingsoft Cloud (NASDAQ:KC) Reaches New 1-Year High – Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.89 and last traded at $5.85, with a volume of 1960427 shares changing hands. The stock had previously closed at $4.59.

Analysts Set New Price Targets

Separately, Bank of America decreased their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Stock Down 11.5 %

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $3.31 and its 200 day moving average price is $2.90. The stock has a market cap of $1.47 billion, a P/E ratio of -4.82 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 18.26%. The firm had revenue of $260.32 million for the quarter, compared to analysts’ expectations of $251.17 million. As a group, research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. boosted its position in shares of Kingsoft Cloud by 33.6% in the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares during the period. Swedbank AB bought a new position in shares of Kingsoft Cloud during the first quarter worth $649,000. Blue Trust Inc. bought a new position in shares of Kingsoft Cloud during the second quarter worth $36,000. Headlands Technologies LLC boosted its position in shares of Kingsoft Cloud by 313.9% during 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 last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.