Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $16.94, but opened at $18.00. Kingsoft Cloud shares last traded at $18.43, with a volume of 1,585,477 shares traded.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Stock Down 7.2 %

The company’s fifty day moving average is $10.75 and its 200 day moving average is $5.88. 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

A number of large investors have recently modified their holdings of KC. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kingsoft Cloud by 628.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock worth $8,464,000 after buying an additional 696,094 shares during the last quarter. Jane Street Group LLC increased its holdings in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares during the last quarter. WT Asset Management Ltd purchased a new stake in Kingsoft Cloud during the fourth quarter valued at approximately $2,613,000. GSA Capital Partners LLP increased 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 valued at $507,000 after buying an additional 81,751 shares during the last quarter. Finally, XY Capital Ltd purchased a new stake in shares of Kingsoft Cloud in the third quarter worth $214,000. Institutional investors own 13.40% of the company’s stock.

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.