Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume - Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) saw strong trading volume on Friday . 1,031,633 shares changed hands during mid-day trading, a decline of 37% from the previous session's volume of 1,645,623 shares.The stock last traded at $6.97 and had previously closed at $7.01.

Analyst Ratings Changes

Several brokerages have recently issued reports on KC. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Bank of America reduced their price target on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. Finally, Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kingsoft Cloud has an average rating of "Buy" and an average target price of $4.62.

Kingsoft Cloud Price Performance

The company has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $3.04. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.58 and a beta of 2.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock worth $1,156,000 after buying an additional 17,700 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Kingsoft Cloud by 383.5% in 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. Swedbank AB boosted its stake in shares of Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company's stock valued at $565,000 after buying an additional 11,800 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after acquiring an additional 81,751 shares during the period. Institutional investors and hedge funds own 13.40% of the company's stock.

About Kingsoft Cloud

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.