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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $16.02, but opened at $16.88. Kingsoft Cloud shares last traded at $17.43, with a volume of 941,537 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KC. Nomura Securities lowered Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.93.

Kingsoft Cloud Trading Down 0.3 %

The firm has a 50 day simple moving average of $14.18 and a 200 day simple moving average of $7.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $4.45 billion, a P/E ratio of -14.62 and a beta of 2.23.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $21,076,000. Voloridge Investment Management LLC bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $16,345,000. Millennium Management LLC boosted its position in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kingsoft Cloud by 628.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after acquiring an additional 696,094 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $6,378,000. Institutional investors own 13.40% of the company's stock.

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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.