Kingsoft Cloud (NASDAQ:KC) Shares Up 5.8% – Should You Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $4.67 and last traded at $4.59. 895,066 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,503,426 shares. The stock had previously closed at $4.34.

Analysts Set New Price Targets

Separately, Bank of America reduced their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kingsoft Cloud has an average rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Price Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $3.11 and a 200 day moving average of $2.84. The firm has a market cap of $1.14 billion, a P/E ratio of -4.46 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The business had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. On average, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swedbank AB acquired a new stake in Kingsoft Cloud in the 1st quarter worth about $649,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud in the 3rd quarter valued at $47,000. Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares during the period. Headlands Technologies LLC increased its position 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 period. Finally, Renaissance Technologies LLC raised its stake in 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 in the last quarter. 13.40% of the stock is owned by 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.