Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.92, but opened at $10.10. Kingsoft Cloud shares last traded at $10.01, with a volume of 1,378,954 shares trading hands.

Analyst Ratings Changes

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

Kingsoft Cloud Trading Up 23.2 %

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 50-day moving average of $6.24 and a 200 day moving average of $3.88. The company has a market cap of $3.19 billion, a PE ratio of -10.48 and a beta of 2.49.

Institutional Trading of Kingsoft Cloud

Several institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted 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 purchasing an additional 24,932 shares during the last quarter. Renaissance Technologies LLC increased its stake in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after buying an additional 17,700 shares during the period. Profund Advisors LLC bought a new stake in Kingsoft Cloud during the 2nd quarter valued at about $27,000. SG Americas Securities LLC purchased a new stake in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Finally, Blue Trust Inc. grew its stake in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares in the last quarter. Institutional investors own 13.40% of the company’s stock.

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.