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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) hit a new 52-week high on Tuesday . The stock traded as high as $18.74 and last traded at $18.36, with a volume of 4594572 shares. The stock had previously closed at $16.94.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Stock Up 5.7 %

The business’s 50-day simple moving average is $10.94 and its 200-day simple moving average is $5.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position 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 acquiring an additional 255,795 shares in the last quarter. Yeomans Consulting Group Inc. purchased a new position in Kingsoft Cloud in the fourth quarter valued at $318,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kingsoft Cloud in the third quarter worth about $326,000. State Street Corp boosted its stake in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Finally, Blue Trust Inc. grew 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. 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.