Kingsoft Cloud (NASDAQ:KC) Trading 3.4% Higher - Still a Buy?

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) traded up 3.4% during mid-day trading on Monday . The company traded as high as $12.49 and last traded at $12.43. 1,654,509 shares changed hands during trading, a decline of 43% from the average session volume of 2,881,970 shares. The stock had previously closed at $12.02.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KC shares. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. 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.

Kingsoft Cloud Trading Up 3.4%

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73. The business's 50-day moving average price is $12.92 and its two-hundred day moving average price is $13.60. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -11.30 and a beta of 2.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Man Group plc bought a new position in Kingsoft Cloud in the fourth quarter valued at approximately $711,000. Quantbot Technologies LP bought a new position in Kingsoft Cloud in the fourth quarter valued at approximately $226,000. Invesco Ltd. increased its stake in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock valued at $659,000 after acquiring an additional 4,878 shares during the last quarter. Millennium Management LLC increased its stake in Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Kingsoft Cloud by 13.8% in the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after acquiring an additional 3,300 shares during the last quarter. 13.40% of the stock is owned by 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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