Kingsoft Cloud (NASDAQ:KC) Stock Price Up 8.3% – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) rose 8.3% during mid-day trading on Monday . The company traded as high as $2.88 and last traded at $2.88. Approximately 1,039,486 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,336,679 shares. The stock had previously closed at $2.66.

Analyst Ratings Changes

Separately, Bank of America cut their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Price Performance

The stock has a market cap of $743.30 million, a price-to-earnings ratio of -2.84 and a beta of 2.00. The stock’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $2.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The business had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. Equities research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KC. Profund Advisors LLC acquired a new stake in Kingsoft Cloud during the second quarter valued at $27,000. Blue Trust Inc. acquired a new stake in Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud during the third quarter valued at $47,000. Headlands Technologies LLC grew its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the period. Finally, Sei Investments Co. grew its position in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.