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

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.48, but opened at $12.57. Kingsoft Cloud shares last traded at $12.36, with a volume of 1,352,199 shares traded.

Wall Street Analysts Forecast Growth

KC has been the topic of a number of recent research reports. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price target on the stock in a report on Monday, May 5th.

Kingsoft Cloud Price Performance

The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -9.98 and a beta of 2.12. 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 company’s fifty day moving average is $12.96 and its two-hundred day moving average is $12.89.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bayforest Capital Ltd bought a new position in Kingsoft Cloud during the first quarter worth about $78,000. Goldman Sachs Group Inc. raised its position in shares of Kingsoft Cloud by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 133,634 shares of the company’s stock worth $1,919,000 after purchasing an additional 11,720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kingsoft Cloud by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company’s stock valued at $4,781,000 after purchasing an additional 1,710 shares in the last quarter. OLD Mission Capital LLC acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at approximately $3,034,000. Finally, Vident Advisory LLC increased its stake in Kingsoft Cloud by 9.3% during the 1st quarter. Vident Advisory LLC now owns 98,148 shares of the company’s stock worth $1,409,000 after purchasing an additional 8,354 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.