Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up prior to trading 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.

Wall Street Analyst Weigh In

KC has been the topic of a number of recent research reports. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. 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, Kingsoft Cloud has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 4.2 %

The business has a 50-day moving average price of $12.38 and a two-hundred day moving average price of $6.75. The company has a market cap of $5.33 billion, a P/E ratio of -17.52 and a beta of 2.31. 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 Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. Marshall Wace LLP acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $119,000. Vise Technologies Inc. bought a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $125,000. Cetera Investment Advisers bought a new stake in Kingsoft Cloud in the fourth quarter valued at approximately $138,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud during the 3rd quarter valued at $47,000. Finally, Blue Trust Inc. increased its holdings in shares of Kingsoft Cloud by 30.9% in 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 during the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.