Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Monday . The stock had previously closed at $12.57, but opened at $14.92. Kingsoft Cloud shares last traded at $15.96, with a volume of 4,977,441 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kingsoft Cloud presently has a consensus rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -12.66 and a beta of 2.30. The business has a fifty day moving average price of $9.94 and a 200 day moving average price of $5.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth about $47,000. Blue Trust Inc. boosted its position in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares in the last quarter. Walleye Capital LLC bought a new stake in Kingsoft Cloud during the third quarter worth about $119,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 worth $205,000 after buying an additional 2,200 shares in the last quarter. Finally, XY Capital Ltd bought a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. 13.40% of the stock is owned by 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.