Kingsoft Cloud (NASDAQ:KC) Sets New 12-Month High – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price reached a new 52-week high during trading on Saturday . The company traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares traded. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

KC has been the topic of several research reports. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Trading Up 14.0 %

The stock has a market capitalization of $2.43 billion, a PE ratio of -7.98 and a beta of 2.49. The stock’s 50 day moving average price is $5.52 and its 200-day moving average price is $3.64. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KC. Profund Advisors LLC purchased a new stake in Kingsoft Cloud in the 2nd quarter worth $27,000. SG Americas Securities LLC bought a new position in Kingsoft Cloud during the third quarter valued at approximately $47,000. Blue Trust Inc. grew its holdings in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares in the last quarter. Headlands Technologies LLC increased its stake in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.