Kingsoft Cloud (NASDAQ:KC) Shares Up 7.8%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares shot up 7.8% during trading on Wednesday . The stock traded as high as $2.69 and last traded at $2.64. 992,519 shares were traded during trading, a decline of 13% from the average session volume of 1,144,743 shares. The stock had previously closed at $2.45.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research note on Monday, March 11th. Jefferies Financial Group boosted their target price on Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a report on Monday, March 25th. Citigroup raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, March 21st. Finally, CLSA raised shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target on the stock in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.55.

Kingsoft Cloud Price Performance

The business has a 50-day moving average of $2.94 and a 200-day moving average of $2.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. The company had revenue of $245.93 million during the quarter, compared to analysts’ expectations of $244.03 million. On average, sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently modified their holdings of KC. Vanguard Personalized Indexing Management LLC grew its stake in shares of Kingsoft Cloud by 50.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after acquiring an additional 5,126 shares in the last quarter. Jump Financial LLC purchased a new stake in Kingsoft Cloud during the 4th quarter worth about $136,000. Russell Investments Group Ltd. raised its position in Kingsoft Cloud by 35.6% in the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock valued at $229,000 after purchasing an additional 15,913 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Kingsoft Cloud by 33.6% in the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares during the period. Finally, Swedbank AB acquired a new position in shares of Kingsoft Cloud during the first quarter worth about $649,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

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.