Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Thursday . The stock had previously closed at $12.85, but opened at $13.12. Kingsoft Cloud shares last traded at $13.19, with a volume of 437,152 shares.

Analysts Set New Price Targets

KC has been the topic of several research reports. 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. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Monday, May 5th.

Kingsoft Cloud Stock Performance

The company has a market capitalization of $3.42 billion, a P/E ratio of -10.36 and a beta of 2.12. 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 fifty day moving average price of $12.92 and a two-hundred day moving average price of $13.11.

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

Institutional Trading of Kingsoft Cloud

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new stake in Kingsoft Cloud during the 1st quarter valued at approximately $65,000. Bayforest Capital Ltd bought a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $78,000. Atlas Capital Advisors Inc. bought a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $104,000. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $119,000. Finally, Vise Technologies Inc. bought a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $125,000. 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.