Kingsoft Cloud (NASDAQ:KC) Sets New 52-Week High – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.55 and last traded at $7.55, with a volume of 104055 shares. The stock had previously closed at $6.69.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kingsoft Cloud has an average rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $4.07 and its 200 day moving average price is $3.09. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -6.27 and a beta of 2.49.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the period. Renaissance Technologies LLC lifted its holdings in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after buying an additional 17,700 shares in the last quarter. Jane Street Group LLC boosted its position in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares during the period. Swedbank AB grew its stake in shares of Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after acquiring an additional 81,751 shares during the period. 13.40% of the stock is currently 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.