Kingsoft Cloud (NASDAQ:KC) Trading Up 12.7% – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price traded up 12.7% during mid-day trading on Wednesday . The stock traded as high as $6.85 and last traded at $6.73. 1,246,507 shares changed hands during trading, a decline of 24% from the average session volume of 1,633,872 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Nomura upgraded 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 report on Friday, November 22nd. Bank of America reduced 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. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $4.62.

Kingsoft Cloud Stock Up 17.4 %

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 company’s 50-day moving average price is $3.77 and its 200-day moving average price is $3.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC acquired a new position in Kingsoft Cloud during the second quarter worth $27,000. Blue Trust Inc. bought a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Headlands Technologies LLC raised its holdings in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud during the third quarter valued at approximately $119,000. 13.40% of the stock is 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.