Kingsoft Cloud (NASDAQ:KC) Reaches New 52-Week High - Time to Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $13.07 and last traded at $13.17, with a volume of 1157080 shares traded. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $5.93.

Kingsoft Cloud Trading Up 20.4 %

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 business has a 50-day moving average of $9.60 and a 200-day moving average of $5.30. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of -12.62 and a beta of 2.30.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after buying an additional 2,200 shares during the period. State Street Corp raised its position in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock valued at $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Blue Trust Inc. boosted its stake in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after acquiring an additional 4,458 shares during the last quarter. XY Capital Ltd grew its holdings in Kingsoft Cloud by 19.1% during the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company's stock worth $908,000 after acquiring an additional 13,909 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

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.