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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.40, but opened at $8.96. Kingsoft Cloud shares last traded at $8.95, with a volume of 678,091 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $5.93.

Kingsoft Cloud Stock Up 14.0 %

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 stock's 50 day simple moving average is $5.52 and its 200 day simple moving average is $3.63. The firm has a market cap of $2.43 billion, a P/E ratio of -7.98 and a beta of 2.49.

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently bought and sold shares of KC. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. bought a new stake in Kingsoft Cloud during the second quarter worth $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the third quarter worth $47,000. Headlands Technologies LLC grew its stake in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, Walleye Capital LLC bought a new position in Kingsoft Cloud in the 3rd quarter valued at $119,000. 13.40% of the stock is currently owned by institutional investors.

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.