Kingsoft Cloud (NASDAQ:KC) Stock Price Up 9.1% – Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) shot up 9.1% during mid-day trading on Monday . The stock traded as high as $13.31 and last traded at $13.06. 905,983 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,810,021 shares. The stock had previously closed at $11.97.

Analysts Set New Price Targets

Several analysts recently commented on the company. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price objective for the company in a research report on Monday, May 5th.

Kingsoft Cloud Stock Performance

The stock’s 50 day moving average is $12.96 and its two-hundred day moving average is $12.98. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -10.93 and a beta of 2.12. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. acquired a new position in Kingsoft Cloud during the fourth quarter worth approximately $21,076,000. Voloridge Investment Management LLC bought a new position in Kingsoft Cloud during the 4th quarter worth $16,345,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kingsoft Cloud by 50.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company’s stock valued at $17,482,000 after acquiring an additional 410,492 shares during the period. Millennium Management LLC grew its stake in shares of Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock valued at $9,389,000 after acquiring an additional 873,686 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Kingsoft Cloud by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company’s stock worth $9,105,000 after acquiring an additional 356,834 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.