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

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) gapped up prior to trading on Monday. The stock had previously closed at $7.77, but opened at $8.12. Kingsoft Cloud shares last traded at $8.1950, with a volume of 201,313 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KC. The Goldman Sachs Group set a $18.00 price target on Kingsoft Cloud in a research report on Tuesday, September 1st. Bank of America reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Morgan Stanley assumed coverage on shares of Kingsoft Cloud in a report on Tuesday, July 7th. They issued an “overweight” rating and a $15.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsoft Cloud in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kingsoft Cloud has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Kingsoft Cloud Trading Up 4.7%

The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -29.06 and a beta of 2.15. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $9.48 and a two-hundred day moving average of $12.02.

Institutional Trading of Kingsoft Cloud

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new position in Kingsoft Cloud in the 1st quarter worth approximately $9,456,000. Matthews International Capital Management LLC acquired a new stake in Kingsoft Cloud in the first quarter worth $2,944,000. Baader Bank Aktiengesellschaft bought a new position in Kingsoft Cloud during the first quarter worth about $2,405,000. XY Capital Ltd increased its stake in Kingsoft Cloud by 84.2% during the 1st quarter. XY Capital Ltd now owns 274,946 shares of the company’s stock worth $3,673,000 after purchasing an additional 125,671 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Kingsoft Cloud by 93.4% in the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock valued at $2,211,000 after purchasing an additional 79,910 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 is a China-based cloud service provider that offers infrastructure and technology services to businesses, government organizations and other institutions. The company provides public cloud, enterprise cloud and industry-specific cloud solutions designed to support computing, data storage, networking and digital transformation.

Its product and service portfolio includes cloud computing infrastructure, content delivery and networking services, databases, storage, information security and related technical support.