Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up prior to trading on Tuesday . The stock had previously closed at $18.03, but opened at $19.02. Kingsoft Cloud shares last traded at $17.94, with a volume of 1,019,420 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KC. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Performance

The stock’s 50-day moving average price is $14.96 and its 200 day moving average price is $8.61. The company has a market cap of $4.56 billion, a P/E ratio of -15.15 and a beta of 2.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently bought and sold shares of KC. Walleye Capital LLC bought a new position in Kingsoft Cloud during the third quarter worth $119,000. Marshall Wace LLP bought a new position in Kingsoft Cloud during the fourth quarter worth $119,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud during the fourth quarter worth $125,000. Cetera Investment Advisers bought a new position in Kingsoft Cloud during the fourth quarter worth $138,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the period. 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.