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 Upgrades and Downgrades

KC has been the topic of several analyst reports. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. 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. Finally, Wall Street Zen downgraded Kingsoft Cloud from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned 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 Price Performance

The stock has a market cap of $3.56 billion, a PE ratio of -11.56 and a beta of 2.10. The firm's 50-day moving average price is $12.76 and its two-hundred day moving average price is $13.67. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kingsoft Cloud by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company's stock valued at $4,781,000 after purchasing an additional 1,710 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Kingsoft Cloud by 13.8% in the 4th 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 acquired a new stake in shares of Kingsoft Cloud in the 1st quarter worth $65,000. Invesco Ltd. boosted its position in shares of Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Kingsoft Cloud in the 1st quarter worth $78,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

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