Kingsoft Cloud (NASDAQ:KC) Reaches New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Up 8.4 %

The company has a market capitalization of $4.66 billion, a PE ratio of -15.30 and a beta of 2.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $10.53 and its two-hundred day moving average is $5.77.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Kingsoft Cloud during the 3rd quarter valued at $47,000. Blue Trust Inc. raised its holdings 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. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after buying an additional 2,200 shares during the last quarter. Yeomans Consulting Group Inc. purchased a new position in shares of Kingsoft Cloud in the 4th quarter worth approximately $318,000. Finally, Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. 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.