Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Time to Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Friday . 3,266,172 shares traded hands during trading, a decline of 6% from the previous session’s volume of 3,489,352 shares.The stock last traded at $20.83 and had previously closed at $17.35.

Analysts Set New Price Targets

Several research analysts have commented on the company. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 19.9 %

The stock has a market cap of $5.28 billion, a P/E ratio of -17.34 and a beta of 2.31. The business’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $6.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KC. SG Americas Securities LLC bought a new stake in Kingsoft Cloud during the 3rd quarter worth approximately $47,000. Blue Trust Inc. boosted its stake in 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 in the last quarter. Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at $119,000. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at about $119,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 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.