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

Key Points

• Kingsoft Cloud shares opened higher at $16.77 after closing at $15.88, with a recent trading price of $16.52.
• Recent upgrades from analysts have changed Kingsoft Cloud's rating from "strong sell" to "buy," with an average price target of $15.40.
• The company has a market capitalization of $4.69 billion and has attracted new investments from various institutional investors in recent quarters.

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $15.88, but opened at $16.77. Kingsoft Cloud shares last traded at $16.52, with a volume of 360,511 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KC shares. Zacks Research upgraded Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Kingsoft Cloud from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, Bank of America upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Kingsoft Cloud presently has an average rating of "Buy" and an average price target of $15.40.

Kingsoft Cloud Stock Performance

The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -14.72 and a beta of 2.18. The company has a fifty day moving average of $14.05 and a two-hundred day moving average of $13.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $27,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at about $65,000. Bayforest Capital Ltd acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at about $78,000. Farther Finance Advisors LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $100,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at about $104,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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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