Kingsoft Cloud (NASDAQ:KC) Shares Up 5.8% - Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s stock price rose 5.8% during mid-day trading on Wednesday . The company traded as high as $12.47 and last traded at $12.13. Approximately 626,966 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,489,948 shares. The stock had previously closed at $11.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Nomura downgraded Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Nomura Securities cut shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd.

Kingsoft Cloud Trading Down 1.2 %

The company has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $10.36. The stock has a market cap of $3.56 billion, a P/E ratio of -11.71 and a beta of 2.23. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted 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 business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business's revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, research analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock worth $205,000 after purchasing an additional 2,200 shares during the period. Jane Street Group LLC lifted its holdings in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after buying an additional 255,795 shares in the last quarter. Yeomans Consulting Group Inc. bought a new position in Kingsoft Cloud in the 4th quarter worth about $318,000. Quantbot Technologies LP purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $226,000. Finally, State Street Corp boosted its holdings in shares of Kingsoft Cloud by 0.5% in the third 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. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.