Kingsoft Cloud (NASDAQ:KC) Reaches New 52-Week High – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.75 and last traded at $17.22, with a volume of 1519101 shares changing hands. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

KC has been the subject of several research analyst reports. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, UBS Group upgraded shares of 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 report on Friday, December 6th. One equities 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’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 2.2 %

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 stock has a market cap of $3.94 billion, a PE ratio of -12.95 and a beta of 2.30. The firm has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $5.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $47,000. Blue Trust Inc. boosted its position in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after purchasing an additional 4,458 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares in the last quarter. Yeomans Consulting Group Inc. purchased a new position in Kingsoft Cloud during the 4th quarter worth $318,000. Finally, Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $119,000. 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.