Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month High – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price hit a new 52-week high during trading on Saturday . The company traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Trading Up 14.0 %

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -7.98 and a beta of 2.49. The business’s fifty day moving average is $5.52 and its 200 day moving average is $3.63. 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 Trading of Kingsoft Cloud

A number of institutional investors have recently modified their holdings of KC. State Street Corp grew its holdings in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Kingsoft Cloud in the third quarter valued at $326,000. 13.40% of the stock is currently 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.