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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up prior to trading on Tuesday . The stock had previously closed at $16.30, but opened at $17.35. Kingsoft Cloud shares last traded at $17.46, with a volume of 811,901 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KC. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. 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 report on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Up 9.3 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a fifty day moving average of $14.28 and a two-hundred day moving average of $8.08. The company has a market cap of $4.52 billion, a PE ratio of -14.85 and a beta of 2.23.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of 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 period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud in the 3rd quarter worth about $326,000. Walleye Capital LLC bought a new stake in Kingsoft Cloud during the 3rd quarter valued at about $119,000. State Street Corp grew its stake in Kingsoft Cloud by 0.5% in 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, Jane Street Group LLC increased its position in shares of Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares during the period. 13.40% of the stock is currently owned by institutional investors.

About Kingsoft Cloud

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.