Kingsoft Cloud (NASDAQ:KC) Sets New 12-Month High – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.75 and last traded at $17.22, with a volume of 1519101 shares trading hands. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Performance

The stock has a market capitalization of $3.94 billion, a PE ratio of -12.95 and a beta of 2.30. The firm has a fifty day moving average price of $9.94 and a two-hundred day moving average price of $5.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently made changes to their positions in KC. XY Capital Ltd grew its position in Kingsoft Cloud by 19.1% during the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after purchasing an additional 13,909 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after acquiring an additional 2,200 shares during the period. WT Asset Management Ltd purchased a new position in shares of Kingsoft Cloud in the 4th quarter valued at $2,613,000. Yeomans Consulting Group Inc. purchased a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $318,000. Finally, Jane Street Group LLC lifted its holdings in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after buying an additional 255,795 shares in 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.