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

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.43, but opened at $16.30. Kingsoft Cloud shares last traded at $16.33, with a volume of 1,270,507 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KC shares. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura Securities lowered Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Nomura lowered Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.55.

Kingsoft Cloud Stock Up 2.1 %

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 has a market capitalization of $4.00 billion, a PE ratio of -13.13 and a beta of 2.23. The firm has a 50-day moving average of $15.49 and a two-hundred day moving average of $9.03.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $119,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $125,000. Cetera Investment Advisers acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $138,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $226,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

About Kingsoft Cloud

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.