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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up before the market opened on Friday . The stock had previously closed at $10.72, but opened at $11.26. Kingsoft Cloud shares last traded at $11.55, with a volume of 445,798 shares trading hands.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Price Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $4.17. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -9.46 and a beta of 2.49.

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of the business. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud during the second quarter valued at approximately $27,000. SG Americas Securities LLC bought a new position in Kingsoft Cloud during the 3rd quarter worth $47,000. Blue Trust Inc. increased 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 worth $56,000 after buying an additional 4,458 shares during the period. Headlands Technologies LLC lifted its stake in Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the third quarter valued at $119,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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.