Kingsoft Cloud (NASDAQ:KC) Trading Up 6.4% – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KCGet Free Report) was up 6.4% during trading on Tuesday . The stock traded as high as $9.91 and last traded at $9.74. Approximately 233,513 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,854,173 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

A number of research firms have commented on KC. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One 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’s stock. According to MarketBeat, Kingsoft Cloud currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Check Out Our Latest Stock Analysis on KC

Kingsoft Cloud Price Performance

The stock has a market cap of $2.38 billion, a PE ratio of -7.81 and a beta of 2.29. The firm’s fifty day moving average price is $7.96 and its 200 day moving average price is $4.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Profund Advisors LLC purchased a new stake in Kingsoft Cloud during the second quarter valued at approximately $27,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud in the third quarter worth $47,000. Blue Trust Inc. boosted its stake in Kingsoft Cloud by 30.9% during 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 boosted its stake in shares of Kingsoft Cloud by 313.9% during the 2nd 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 period. Finally, Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $119,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Company Profile

(Get Free Report)

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.

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