Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Monday . 1,995,685 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 1,767,139 shares.The stock last traded at $11.36 and had previously closed at $10.79.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Performance

The stock has a market cap of $3.04 billion, a P/E ratio of -9.98 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a fifty day moving average of $9.24 and a 200 day moving average of $5.09.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares in the last quarter. Yeomans Consulting Group Inc. acquired a new position in Kingsoft Cloud in the fourth quarter worth approximately $318,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the third quarter valued at $326,000. State Street Corp lifted its position 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 valued at $1,793,000 after acquiring an additional 3,104 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the last quarter. 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.