Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month High - Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) hit a new 52-week high during trading on Saturday . The company traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares traded. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

KC has been the subject of several recent research reports. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $5.93.

Kingsoft Cloud Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -7.98 and a beta of 2.49. The stock has a fifty day simple moving average of $5.52 and a two-hundred day simple moving average of $3.63.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KC. Profund Advisors LLC acquired a new stake in Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud in the second quarter worth $36,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the third quarter valued at $47,000. Headlands Technologies LLC raised its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the third quarter worth about $119,000. 13.40% of the stock is currently 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.