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 Friday . The stock had previously closed at $12.65, but opened at $13.60. Kingsoft Cloud shares last traded at $14.06, with a volume of 865,676 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KC shares. Nomura Securities downgraded shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd.

Kingsoft Cloud Stock Performance

The stock's 50 day simple moving average is $16.32 and its two-hundred day simple moving average is $10.46. The company has a market cap of $2.75 billion, a PE ratio of -9.04 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.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The company's revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

Large investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. acquired a new position in Kingsoft Cloud during the fourth quarter worth about $21,076,000. Voloridge Investment Management LLC acquired a new stake in shares of Kingsoft Cloud during the 4th quarter valued at $16,345,000. Millennium Management LLC increased its position in Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after purchasing an additional 873,686 shares during the last quarter. Renaissance Technologies LLC grew its position in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after acquiring an additional 356,834 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after buying an additional 696,094 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.