Kingsoft Cloud (NASDAQ:KC) Stock Price Up 9.9% – Should You Buy?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) shot up 9.9% on Monday . The company traded as high as $12.27 and last traded at $12.31. 743,004 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,653,462 shares. The stock had previously closed at $11.20.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KC. Zacks Research raised Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a report on Thursday, August 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsoft Cloud in a research report on Wednesday, October 8th. Bank of America raised Kingsoft Cloud from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 9th. Wall Street Zen raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kingsoft Cloud in a research report on Tuesday, September 16th. They set a “buy” rating and a $21.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and an average target price of $17.27.

Kingsoft Cloud Stock Up 11.4%

The firm has a market capitalization of $3.77 billion, a PE ratio of -10.93 and a beta of 2.14. The stock has a 50-day simple moving average of $14.05 and a 200-day simple moving average of $13.68. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership bought a new position in Kingsoft Cloud during the third quarter worth about $51,504,000. JPMorgan Chase & Co. grew its stake in Kingsoft Cloud by 2,541.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,129,120 shares of the company’s stock valued at $14,137,000 after buying an additional 1,086,372 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Kingsoft Cloud during the 1st quarter valued at $10,573,000. Penserra Capital Management LLC purchased a new stake in shares of Kingsoft Cloud during the second quarter worth $5,955,000. Finally, LMR Partners LLP boosted its holdings in shares of Kingsoft Cloud by 1,114.5% in the second quarter. LMR Partners LLP now owns 518,200 shares of the company’s stock worth $6,488,000 after acquiring an additional 475,533 shares during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.