Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Friday . 3,266,172 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 3,489,352 shares.The stock last traded at $20.83 and had previously closed at $17.35.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded 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, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -17.02 and a beta of 2.31. The stock has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $6.15. 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

Several large investors have recently made changes to their positions in KC. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth approximately $47,000. Blue Trust Inc. raised its stake in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares during the period. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. Marshall Wace LLP acquired a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $119,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 shares during the period. 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.