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

Key Points

• Kingsoft Cloud shares jumped 4.7%, opening at $8.12 versus a prior close of $7.77 and last trading around $8.20.
• Analyst sentiment is generally positive, with an average rating of “Moderate Buy” and an average price target of $16.67, although Weiss Ratings maintained a sell rating.
• The company has a $2.46 billion market capitalization, but remains unprofitable with a negative P/E ratio; institutional investors own 13.4% of its shares.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $7.77, but opened at $8.12. Kingsoft Cloud shares last traded at $8.1950, with a volume of 201,313 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on KC. Jefferies Financial Group restated a "buy" rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Bank of America reiterated a "buy" rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. 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 research report on Tuesday, October 13th. Finally, The Goldman Sachs Group set a $18.00 price target on shares of Kingsoft Cloud in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.67.

Kingsoft Cloud Stock Up 4.7%

The stock has a market cap of $2.46 billion, a PE ratio of -29.06 and a beta of 2.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $9.48 and a two-hundred day moving average price of $12.02.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors have recently bought and sold shares of KC. Vise Technologies Inc. lifted its holdings in shares of Kingsoft Cloud by 25.3% during the third quarter. Vise Technologies Inc. now owns 21,627 shares of the company's stock worth $197,000 after purchasing an additional 4,371 shares during the period. Cetera Investment Advisers lifted its position in Kingsoft Cloud by 11.7% during the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company's stock worth $442,000 after buying an additional 3,449 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Kingsoft Cloud in the 1st quarter valued at approximately $442,000. Headlands Technologies LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter worth approximately $588,000. Finally, Bank of America Corp DE increased its stake in Kingsoft Cloud by 93.4% during the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company's stock worth $2,211,000 after buying an additional 79,910 shares during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

About Kingsoft Cloud

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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