Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - Here's Why

Key Points

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Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $13.68, but opened at $14.65. Kingsoft Cloud shares last traded at $14.70, with a volume of 472,220 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on KC shares. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Kingsoft Cloud from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target on the stock in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.33.

Kingsoft Cloud Stock Up 3.5%

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.89 billion, a PE ratio of -12.67 and a beta of 2.10. The business has a 50 day moving average price of $13.00 and a 200 day moving average price of $14.13.

Institutional Trading of Kingsoft Cloud

A number of hedge funds have recently modified their holdings of KC. Compagnie Lombard Odier SCmA acquired a new position in Kingsoft Cloud in the 1st quarter worth about $65,000. Bayforest Capital Ltd acquired a new position in Kingsoft Cloud in the 1st quarter worth about $78,000. Farther Finance Advisors LLC acquired a new position in Kingsoft Cloud in the 2nd quarter worth about $100,000. Atlas Capital Advisors Inc. acquired a new position in Kingsoft Cloud in the 1st quarter worth about $104,000. Finally, Marshall Wace LLP acquired a new position in Kingsoft Cloud in the 4th quarter worth about $119,000. Hedge funds and other 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.