Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Time to Buy?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)’s share price gapped up prior to trading on Friday. The stock had previously closed at $8.11, but opened at $8.42. Kingsoft Cloud shares last traded at $8.4950, with a volume of 239,648 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Morgan Stanley began coverage on Kingsoft Cloud in a report on Tuesday, July 7th. They set an “overweight” rating and a $15.00 target price for the company. The Goldman Sachs Group set a $18.00 target price 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.67.

Kingsoft Cloud Price Performance

The stock’s 50-day moving average price is $9.85 and its 200 day moving average price is $11.64. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -30.55 and a beta of 1.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Institutional Trading of Kingsoft Cloud

Several large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Kingsoft Cloud during the 4th quarter valued at about $73,000. Cetera Investment Advisers raised its holdings in Kingsoft Cloud by 11.7% in the 1st quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock valued at $442,000 after acquiring an additional 3,449 shares during the last quarter. ABC Arbitrage SA purchased a new position in Kingsoft Cloud in the 1st quarter worth approximately $442,000. Blue Trust Inc. lifted its stake in Kingsoft Cloud by 39.2% in the 1st quarter. Blue Trust Inc. now owns 35,085 shares of the company’s stock worth $469,000 after purchasing an additional 9,881 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Kingsoft Cloud in the 2nd quarter worth approximately $588,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

About Kingsoft Cloud

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.