Kingsoft Cloud (NASDAQ:KC) Trading Up 9.1% – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price traded up 9.1% on Monday . The stock traded as high as $13.31 and last traded at $13.06. 905,983 shares were traded during trading, a decline of 68% from the average session volume of 2,810,021 shares. The stock had previously closed at $11.97.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price objective for the company in a research note on Monday, May 5th.

Kingsoft Cloud Stock Performance

The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -10.93 and a beta of 2.12. The company has a 50 day moving average price of $12.96 and a 200 day moving average price of $12.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities research analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KC. Compagnie Lombard Odier SCmA acquired a new position in Kingsoft Cloud during the 1st quarter valued at about $65,000. Bayforest Capital Ltd purchased a new stake in Kingsoft Cloud in the 1st quarter valued at $78,000. Atlas Capital Advisors Inc. bought a new position in Kingsoft Cloud during the 1st quarter valued at $104,000. Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth $119,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $125,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.