Kingsoft Cloud (NASDAQ:KC) Stock Price Up 6.1% – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price was up 6.1% during mid-day trading on Monday . The company traded as high as $18.29 and last traded at $18.36. Approximately 1,557,775 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 3,690,495 shares. The stock had previously closed at $17.31.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KC shares. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

Kingsoft Cloud Price Performance

The business’s 50 day moving average is $15.11 and its two-hundred day moving average is $8.72. The firm has a market capitalization of $4.59 billion, a PE ratio of -15.08 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC) last announced its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. Kingsoft Cloud’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KC. Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud during the third quarter worth approximately $119,000. Marshall Wace LLP purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $119,000. Vise Technologies Inc. purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $125,000. Cetera Investment Advisers purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $138,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares in the last quarter. 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.