Kingsoft Cloud (NASDAQ:KC) Shares Gap Up to $2.73

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.73, but opened at $2.87. Kingsoft Cloud shares last traded at $2.92, with a volume of 171,197 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KC shares. Citigroup upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, March 21st. Jefferies Financial Group raised their price target on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, CLSA raised shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 target price for the company in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.55.

Kingsoft Cloud Stock Up 2.6 %

The company has a market capitalization of $710.33 million, a price-to-earnings ratio of -2.58 and a beta of 2.00. The firm’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $2.94. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Kingsoft Cloud had a negative return on equity of 25.61% and a negative net margin of 27.62%. The business had revenue of $245.93 million for the quarter, compared to analyst estimates of $244.03 million. Sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently added to or reduced their stakes in KC. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kingsoft Cloud by 95.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after buying an additional 312,132 shares during the period. Artisan Partners Limited Partnership raised its position in Kingsoft Cloud by 3.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after acquiring an additional 20,084 shares during the period. Swedbank AB bought a new stake in Kingsoft Cloud in the first quarter worth about $649,000. Sei Investments Co. increased its stake in shares of Kingsoft Cloud by 33.6% in the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Kingsoft Cloud by 35.6% in the fourth quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares in the last quarter. Institutional investors own 13.40% of the company’s stock.

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.