Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - Should You Buy?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $11.56, but opened at $12.60. Kingsoft Cloud shares last traded at $12.69, with a volume of 1,221,291 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on KC shares. Nomura raised 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. Wall Street Zen lowered Kingsoft Cloud from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Stock Performance

The company has a market capitalization of $4.16 billion, a PE ratio of -13.51 and a beta of 2.10. The company has a 50 day moving average of $12.70 and a two-hundred day moving average of $13.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KC. D. E. Shaw & Co. Inc. bought a new stake in Kingsoft Cloud during the 4th quarter valued at approximately $21,076,000. Voloridge Investment Management LLC bought a new stake in Kingsoft Cloud in the 4th quarter worth approximately $16,345,000. Millennium Management LLC increased its stake in Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Kingsoft Cloud in the 1st quarter worth approximately $10,573,000. Finally, Two Sigma Investments LP bought a new stake in Kingsoft Cloud in the 4th quarter worth approximately $6,378,000. 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.