Kingsoft Cloud (NASDAQ:KC) Sets New 52-Week High – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.95 and last traded at $21.84, with a volume of 1204829 shares changing hands. The stock had previously closed at $19.33.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Up 2.4 %

The firm’s 50 day moving average is $12.17 and its 200-day moving average is $6.66. The firm has a market cap of $5.02 billion, a PE ratio of -16.50 and a beta of 2.31. 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 Investors Weigh In On Kingsoft Cloud

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Blue Trust Inc. lifted its stake 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 acquiring an additional 4,458 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud in the third quarter worth about $119,000. Marshall Wace LLP purchased a new position in Kingsoft Cloud in the fourth quarter valued at about $119,000. Finally, Vise Technologies Inc. acquired a new stake in Kingsoft Cloud during the 4th quarter valued at approximately $125,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.