Kingsoft Cloud (NASDAQ:KC) Reaches New 12-Month High – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.70 and last traded at $9.25, with a volume of 1361332 shares traded. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KC. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Bank of America reduced their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.20 to $12.50 in a research report on Friday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Down 2.6 %

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 company has a market cap of $2.29 billion, a PE ratio of -7.71 and a beta of 2.48. The company has a fifty day moving average price of $4.43 and a 200 day moving average price of $3.21.

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the third quarter worth approximately $326,000. Blue Trust Inc. grew its holdings in shares of Kingsoft Cloud by 30.9% in 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 last quarter. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud in the third quarter worth approximately $47,000. Headlands Technologies LLC grew its holdings in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Swedbank AB lifted its stake in Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares during the period. Hedge funds and other institutional investors own 13.40% of the company’s stock.

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.