Kingsoft Cloud (NASDAQ:KC) Sets New 1-Year High - Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $10.49 and last traded at $10.20, with a volume of 7567912 shares changing hands. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KC shares. Nomura Securities raised 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 raised their price target for the stock 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 increased their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Kingsoft Cloud has an average rating of "Buy" and an average price target of $5.93.

Kingsoft Cloud Trading Up 23.2 %

The business has a 50 day moving average of $6.24 and a 200 day moving average of $3.88. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -10.48 and a beta of 2.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors have recently added to or reduced their stakes in KC. Jane Street Group LLC grew its holdings in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after purchasing an additional 255,795 shares during the period. State Street Corp boosted its holdings 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 during the last quarter. Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $119,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $326,000. Finally, GSA Capital Partners LLP raised its position in shares of Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after buying an additional 81,751 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.