Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - Time to Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KC. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research note on Monday, May 5th. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th.

Kingsoft Cloud Trading Down 3.8%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The business has a 50-day simple moving average of $13.00 and a two-hundred day simple moving average of $12.83. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -9.92 and a beta of 2.12.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm's revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Kingsoft Cloud by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company's stock worth $4,781,000 after acquiring an additional 1,710 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock worth $205,000 after purchasing an additional 2,200 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Kingsoft Cloud by 13.8% in the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock worth $285,000 after purchasing an additional 3,300 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $65,000. Finally, Invesco Ltd. increased its holdings in shares of Kingsoft Cloud by 8.4% during the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock valued at $659,000 after acquiring an additional 4,878 shares in the last quarter. Institutional investors own 13.40% of the company's stock.

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.