Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month High – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) hit a new 52-week high on Thursday . The company traded as high as $13.07 and last traded at $13.17, with a volume of 1157080 shares. The stock had previously closed at $11.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Nomura Securities raised 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 boosted their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 13.1 %

The stock has a 50 day moving average price of $9.34 and a 200 day moving average price of $5.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $3.37 billion, a P/E ratio of -11.07 and a beta of 2.29.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Kingsoft Cloud during the 3rd quarter valued at about $47,000. Blue Trust Inc. lifted its stake in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares during the last quarter. Walleye Capital LLC bought a new stake in Kingsoft Cloud in the 3rd quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Finally, XY Capital Ltd bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors 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.