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

Key Points

• Kingsoft Cloud's shares opened at $14.37 after closing at $13.58, indicating a significant gap up in trading.
• Analyst ratings for Kingsoft Cloud are mixed, with Nomura recently upgrading the stock to a buy rating with a price target of $18.30, while Wall Street Zen downgraded it to a sell rating.
• Institutional investors are increasingly investing in Kingsoft Cloud, with notable positions increasing, including a 2,541.3% increase from JPMorgan Chase & Co.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.58, but opened at $14.37. Kingsoft Cloud shares last traded at $14.34, with a volume of 429,188 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on KC. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Wall Street Zen cut Kingsoft Cloud from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, Kingsoft Cloud has a consensus rating of "Buy" and a consensus price target of $15.40.

Kingsoft Cloud Price Performance

The stock has a market cap of $3.72 billion, a P/E ratio of -12.10 and a beta of 2.10. The firm has a 50-day moving average price of $13.42 and a 200-day moving average price of $14.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. bought a new position in Kingsoft Cloud during the 2nd quarter valued at approximately $27,000. Compagnie Lombard Odier SCmA bought a new position in Kingsoft Cloud during the 1st quarter valued at approximately $65,000. Bayforest Capital Ltd bought a new position in Kingsoft Cloud during the 1st quarter valued at approximately $78,000. Farther Finance Advisors LLC bought a new position in Kingsoft Cloud during the 2nd quarter valued at approximately $100,000. Finally, Atlas Capital Advisors Inc. bought a new position in Kingsoft Cloud during the 1st quarter valued at approximately $104,000. Institutional investors own 13.40% of the company's stock.

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.