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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up prior to trading on Tuesday . The stock had previously closed at $16.30, but opened at $17.35. Kingsoft Cloud shares last traded at $17.46, with a volume of 811,901 shares trading hands.

Analyst Ratings Changes

KC has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Kingsoft Cloud Trading Down 3.2 %

The firm has a market capitalization of $4.44 billion, a P/E ratio of -14.60 and a beta of 2.23. The business’s 50-day moving average is $14.57 and its 200 day moving average is $8.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds have recently bought and sold shares of KC. Marshall Wace LLP bought a new position in Kingsoft Cloud in the 4th quarter valued at about $119,000. Vise Technologies Inc. acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $125,000. Cetera Investment Advisers acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $138,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $226,000. 13.40% of the stock is 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.