Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $11.00, but opened at $11.47. Kingsoft Cloud shares last traded at $11.45, with a volume of 1,063,836 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on KC. Nomura cut shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Nomura Securities lowered shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Kingsoft Cloud Price Performance

The firm has a market capitalization of $3.03 billion, a PE ratio of -9.96 and a beta of 2.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $15.35 and a 200 day moving average price of $10.79.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.08 earnings per share. The firm's revenue for the quarter was up 29.6% on a year-over-year basis. Equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds have recently modified their holdings of KC. Compagnie Lombard Odier SCmA acquired a new stake in Kingsoft Cloud during the first quarter worth $65,000. Marshall Wace LLP acquired a new stake in shares of Kingsoft Cloud during the fourth quarter valued at about $119,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $125,000. Cetera Investment Advisers acquired a new position in shares of Kingsoft Cloud in the 4th quarter worth approximately $138,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $205,000 after purchasing an additional 2,200 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.