Kingsoft Cloud (NASDAQ:KC) Shares Up 6.4% - Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) traded up 6.4% on Tuesday . The company traded as high as $9.91 and last traded at $9.74. 233,513 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,854,173 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

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

Kingsoft Cloud Trading Up 3.9 %

The company has a fifty day moving average of $7.96 and a 200-day moving average of $4.51. 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 firm has a market capitalization of $2.41 billion, a PE ratio of -7.93 and a beta of 2.29.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after acquiring an additional 3,104 shares during the period. Renaissance Technologies LLC increased its holdings in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock valued at $1,156,000 after buying an additional 17,700 shares during the period. Jane Street Group LLC raised its stake in shares of Kingsoft Cloud by 383.5% in 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. GSA Capital Partners LLP lifted its holdings in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after acquiring an additional 81,751 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at about $326,000. 13.40% of the stock is owned by 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.