Kingsoft Cloud (NASDAQ:KC) Hits New 52-Week High - What's Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $18.74 and last traded at $18.36, with a volume of 4594572 shares. The stock had previously closed at $16.94.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $5.93.

Kingsoft Cloud Stock Up 19.9 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $5.28 billion, a P/E ratio of -17.34 and a beta of 2.31. The business has a 50-day moving average price of $11.30 and a 200 day moving average price of $6.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC raised its holdings in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after buying an additional 255,795 shares during the period. Yeomans Consulting Group Inc. purchased a new stake in Kingsoft Cloud during the 4th quarter valued at $318,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at $326,000. Finally, State Street Corp raised its holdings in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock valued at $1,793,000 after buying an additional 3,104 shares during the period. 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.