Kingsoft Cloud (NASDAQ:KC) Trading Up 11.7% – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price was up 11.7% during trading on Monday . The stock traded as high as $4.62 and last traded at $4.57. Approximately 773,109 shares changed hands during trading, a decline of 46% from the average daily volume of 1,435,337 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

Separately, Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $2.80.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The business had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. On average, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Several institutional investors have recently modified their holdings of KC. Sei Investments Co. increased its stake in Kingsoft Cloud by 33.6% in the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after acquiring an additional 35,175 shares during the period. Swedbank AB bought a new stake in shares of Kingsoft Cloud in the 1st quarter valued at approximately $649,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC raised its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after buying an additional 24,932 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 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.