Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw an uptick in trading volume on Friday . 3,266,172 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 3,489,352 shares.The stock last traded at $20.83 and had previously closed at $17.35.

Wall Street Analyst Weigh In

Several research firms recently commented on KC. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $12.50 in a research note 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 raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 17.2 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $6.15. The company has a market capitalization of $5.16 billion, a PE ratio of -17.02 and a beta of 2.31.

Institutional Trading of Kingsoft Cloud

A number of hedge funds and other institutional investors have recently modified their holdings of KC. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud during the 3rd quarter worth about $47,000. Blue Trust Inc. boosted its stake in shares of Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the period. XY Capital Ltd purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $214,000. GSA Capital Partners LLP boosted its stake in shares of Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after buying an additional 81,751 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $326,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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.