Kingsoft Cloud (NASDAQ:KC) Shares Up 6.5% - Time to Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shot up 6.5% during mid-day trading on Thursday . The stock traded as high as $17.14 and last traded at $16.63. 1,441,312 shares changed hands during trading, a decline of 52% from the average session volume of 2,993,147 shares. The stock had previously closed at $15.61.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Trading Up 8.4 %

The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -15.31 and a beta of 2.31. The business's 50 day simple moving average is $10.53 and its 200 day simple moving average is $5.77. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its stake in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after buying an additional 255,795 shares during the last quarter. Yeomans Consulting Group Inc. acquired a new position in shares of Kingsoft Cloud in the fourth quarter valued at approximately $318,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kingsoft Cloud during the 3rd quarter worth approximately $326,000. State Street Corp boosted its stake in Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock valued at $1,793,000 after purchasing an additional 3,104 shares during the period. Finally, Blue Trust Inc. grew its holdings in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after buying an additional 4,458 shares in the last quarter. 13.40% of the stock is 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.