Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $20.17, but opened at $21.13. Kingsoft Cloud shares last traded at $21.87, with a volume of 1,732,829 shares trading hands.

Analyst Ratings Changes

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

Kingsoft Cloud Price Performance

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 firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -17.23 and a beta of 2.31. The business has a 50-day moving average price of $12.61 and a two-hundred day moving average price of $6.91.

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently modified their holdings of KC. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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. State Street Corp raised its holdings in Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after acquiring an additional 3,104 shares during the period. Two Sigma Advisers LP boosted its position in shares of Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock worth $285,000 after acquiring an additional 3,300 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Kingsoft Cloud by 30.9% during 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. Finally, Invesco Ltd. boosted its position in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock valued at $659,000 after buying an additional 4,878 shares in the last quarter. Institutional investors and hedge funds 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.