Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Friday . The stock had previously closed at $10.72, but opened at $11.26. Kingsoft Cloud shares last traded at $11.55, with a volume of 445,798 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 5.1 %

The company has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $4.10. 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 firm has a market cap of $2.86 billion, a P/E ratio of -9.39 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently bought and sold shares of the business. Profund Advisors LLC bought a new stake in shares of Kingsoft Cloud during the second quarter valued at approximately $27,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud in the 3rd quarter valued at $47,000. Blue Trust Inc. lifted its stake in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. Headlands Technologies LLC lifted its stake in 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 purchasing an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $119,000. 13.40% of the stock is owned by institutional investors.

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.