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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $2.68, but opened at $2.87. Kingsoft Cloud shares last traded at $2.89, with a volume of 579,464 shares traded.

Analysts Set New Price Targets

Separately, Bank of America cut their price target on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kingsoft Cloud has an average rating of "Moderate Buy" and a consensus target price of $4.10.

Kingsoft Cloud Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $705.25 million, a P/E ratio of -2.46 and a beta of 2.00. The firm has a 50 day simple moving average of $2.64 and a two-hundred day simple moving average of $2.76.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted its earnings results on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The firm had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. Equities research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently bought and sold shares of KC. Blue Trust Inc. boosted its position in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after purchasing an additional 4,458 shares during the period. SG Americas Securities LLC bought a new position in Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Profund Advisors LLC purchased a new position in Kingsoft Cloud in the 2nd quarter valued at approximately $27,000. Renaissance Technologies LLC raised its holdings in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock valued at $1,156,000 after acquiring an additional 17,700 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock worth $83,000 after acquiring an additional 24,932 shares in the last quarter. 13.40% of the stock is 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.