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Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - What's Next?

Kingsoft Cloud logo with Computer and Technology background

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.48, but opened at $12.57. Kingsoft Cloud shares last traded at $12.36, with a volume of 1,352,199 shares traded.

Analyst Ratings Changes

KC has been the topic of a number of research reports. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a research report on Monday, May 5th. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th.

View Our Latest Stock Report on Kingsoft Cloud

Kingsoft Cloud Price Performance

The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -9.98 and a beta of 2.12. The stock's 50 day simple moving average is $12.96 and its two-hundred day simple moving average is $12.93. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the company posted $0.08 EPS. The company's revenue was up 29.6% compared to the same quarter last year. On average, analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KC. Compagnie Lombard Odier SCmA bought a new position in shares of Kingsoft Cloud in the first quarter valued at approximately $65,000. Bayforest Capital Ltd bought a new stake in Kingsoft Cloud during the 1st quarter worth approximately $78,000. Atlas Capital Advisors Inc. acquired a new stake in Kingsoft Cloud during the 1st quarter valued at $104,000. Marshall Wace LLP bought a new position in Kingsoft Cloud in the 4th quarter valued at $119,000. Finally, Vise Technologies Inc. bought a new position in Kingsoft Cloud in the 4th quarter valued at $125,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

(Get Free Report)

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.

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