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 Friday . The stock had previously closed at $9.54, but opened at $10.55. Kingsoft Cloud shares last traded at $10.99, with a volume of 1,192,878 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura upgraded shares of 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 report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Up 13.6 %

The stock has a 50-day moving average price of $8.84 and a 200-day moving average price of $4.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $2.75 billion, a P/E ratio of -8.99 and a beta of 2.29.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Profund Advisors LLC bought a new stake in shares of Kingsoft Cloud during the second quarter worth about $27,000. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth $47,000. Blue Trust Inc. raised 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. Walleye Capital LLC purchased a new position in Kingsoft Cloud during the third quarter worth about $119,000. Finally, XY Capital Ltd bought a new stake in Kingsoft Cloud in the 3rd quarter worth about $214,000. 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.