Kingsoft Cloud (NASDAQ:KC) Trading Up 5.5% – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price rose 5.5% on Wednesday . The company traded as high as $18.03 and last traded at $17.98. Approximately 1,486,472 shares were traded during trading, a decline of 55% from the average daily volume of 3,280,117 shares. The stock had previously closed at $17.04.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kingsoft Cloud currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 5.4 %

The company has a market cap of $4.55 billion, a price-to-earnings ratio of -14.82 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $10.94 and a 200-day simple moving average of $5.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the third quarter valued at $47,000. Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud during the third quarter worth approximately $119,000. 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 purchasing an additional 2,200 shares in the last quarter. Finally, XY Capital Ltd acquired a new position in Kingsoft Cloud in the 3rd quarter valued at approximately $214,000. 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.