Kingsoft Cloud (NASDAQ:KC) Trading Up 6.4% – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were up 6.4% on Tuesday . The company traded as high as $15.69 and last traded at $15.91. Approximately 2,137,454 shares traded hands during trading, a decline of 43% from the average daily volume of 3,773,210 shares. The stock had previously closed at $14.96.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KC shares. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group upgraded 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Performance

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 firm’s 50-day moving average is $13.63 and its two-hundred day moving average is $7.57. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of -13.35 and a beta of 2.31.

Institutional Trading of Kingsoft Cloud

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Kingsoft Cloud in the 4th quarter valued at about $609,000. GTS Securities LLC purchased a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $325,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $125,000. Voloridge Investment Management LLC purchased a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $16,345,000. Finally, Vident Advisory LLC grew its stake in shares of Kingsoft Cloud by 158.9% in the 4th quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock valued at $942,000 after buying an additional 55,113 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.