Kingsoft Cloud (NASDAQ:KC) Trading Up 6.1% - What's Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price shot up 6.1% during trading on Monday . The stock traded as high as $18.29 and last traded at $18.36. 1,557,775 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 3,690,495 shares. The stock had previously closed at $17.31.

Analysts Set New Price Targets

Several brokerages have recently commented on KC. UBS Group raised 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 report on Friday, December 6th. Nomura cut Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Finally, Nomura Securities lowered Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.93.

Kingsoft Cloud Stock Down 7.9 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $3.85 billion, a P/E ratio of -12.65 and a beta of 2.23. The firm has a 50 day moving average of $15.39 and a 200-day moving average of $8.84.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion for 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 quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in KC. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter worth approximately $119,000. Marshall Wace LLP acquired a new position in shares of Kingsoft Cloud in the 4th quarter worth approximately $119,000. Vise Technologies Inc. acquired a new position in shares of Kingsoft Cloud in the 4th quarter worth 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 holdings in shares of 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 worth $205,000 after acquiring an additional 2,200 shares in the last quarter. 13.40% of the stock is 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.