Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - What's Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $15.43, but opened at $16.30. Kingsoft Cloud shares last traded at $16.33, with a volume of 1,270,507 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KC shares. Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Nomura Securities downgraded shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $6.55.

Kingsoft Cloud Price Performance

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 company has a 50 day moving average of $15.75 and a 200-day moving average of $9.22. The firm has a market capitalization of $3.98 billion, a P/E ratio of -13.08 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the business posted $0.08 earnings per share. Kingsoft Cloud's quarterly revenue was up 29.6% on a year-over-year basis. On average, sell-side analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Remove Ads

Institutional Investors Weigh In On Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% in 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. Jane Street Group LLC boosted its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after acquiring an additional 255,795 shares in the last quarter. Yeomans Consulting Group Inc. bought a new position in Kingsoft Cloud in the fourth quarter valued at approximately $318,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kingsoft Cloud during the third quarter valued at approximately $326,000. Finally, State Street Corp lifted its stake 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 during the last quarter. Institutional investors and hedge funds 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.