Kingsoft Cloud (NASDAQ:KC) Shares Up 9.3% - Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shot up 9.3% during trading on Friday . The stock traded as high as $15.09 and last traded at $15.27. 1,070,251 shares were traded during trading, a decline of 72% from the average session volume of 3,808,994 shares. The stock had previously closed at $13.97.

Analyst Ratings Changes

Several research analysts have weighed in on KC shares. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target on the stock in a report on Monday. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday.

Kingsoft Cloud Trading Down 4.1 %

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.13 billion, a P/E ratio of -12.71 and a beta of 2.24. The business's 50 day simple moving average is $14.55 and its two-hundred day simple moving average is $11.42.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business's quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after acquiring an additional 2,200 shares during the period. Yeomans Consulting Group Inc. bought a new stake in Kingsoft Cloud during the 4th quarter valued at $318,000. Quantbot Technologies LP acquired a new position in Kingsoft Cloud during the fourth quarter worth $226,000. Invesco Ltd. lifted its stake in shares of 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 buying an additional 4,878 shares in the last quarter. Finally, WT Asset Management Ltd bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth about $2,613,000. 13.40% of the stock is owned by institutional investors.

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.