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

Key Points

• Kingsoft Cloud shares opened higher, rising from a prior close of $8.11 to $8.42 and recently trading at $8.495, up about 5.5%.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $16.67 price target, although ratings range from Strong Buy to Sell.
• The company has a $2.58 billion market capitalization and remains unprofitable, with a negative P/E ratio of -30.55; institutional investors and hedge funds own 13.4% of the stock.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s share price gapped up prior to trading on Friday. The stock had previously closed at $8.11, but opened at $8.42. Kingsoft Cloud shares last traded at $8.4950, with a volume of 239,648 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KC. The Goldman Sachs Group set a $18.00 price objective on shares of Kingsoft Cloud in a research note on Tuesday, September 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kingsoft Cloud in a research note on Thursday, October 15th. Zacks Research raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. Morgan Stanley initiated coverage on shares of Kingsoft Cloud in a research report on Tuesday, July 7th. They set an "overweight" rating and a $15.00 price target on the stock. Finally, Bank of America restated a "buy" rating on shares of Kingsoft Cloud in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kingsoft Cloud presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.67.

Kingsoft Cloud Trading Up 5.5%

The stock has a market cap of $2.58 billion, a PE ratio of -30.55 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average of $9.85 and a two-hundred day moving average of $11.64.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in Kingsoft Cloud during the fourth quarter worth $73,000. Cetera Investment Advisers lifted its holdings in Kingsoft Cloud by 11.7% during the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company's stock valued at $442,000 after purchasing an additional 3,449 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Kingsoft Cloud in the first quarter valued at about $442,000. Blue Trust Inc. grew its position in shares of Kingsoft Cloud by 39.2% in the first quarter. Blue Trust Inc. now owns 35,085 shares of the company's stock valued at $469,000 after purchasing an additional 9,881 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter valued at about $588,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a China-based cloud service provider that offers infrastructure and technology services to businesses, government organizations and other institutions. The company provides public cloud, enterprise cloud and industry-specific cloud solutions designed to support computing, data storage, networking and digital transformation.

Its product and service portfolio includes cloud computing infrastructure, content delivery and networking services, databases, storage, information security and related technical support.

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