Kingsoft Cloud (NASDAQ:KC) Reaches New 52-Week High – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.74 and last traded at $18.36, with a volume of 4594572 shares trading hands. The stock had previously closed at $16.94.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KC shares. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Up 5.7 %

The company’s 50 day moving average price is $10.94 and its two-hundred day moving average price is $5.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kingsoft Cloud by 628.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock valued at $8,464,000 after purchasing an additional 696,094 shares during the last quarter. Headlands Technologies LLC acquired a new position in Kingsoft Cloud in the fourth quarter valued at approximately $2,990,000. Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares during the period. WT Asset Management Ltd purchased a new position in Kingsoft Cloud in the fourth quarter worth approximately $2,613,000. Finally, GSA Capital Partners LLP increased its stake in 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 last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.