Kingsoft Cloud (NASDAQ:KC) Reaches New 1-Year High – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $13.07 and last traded at $13.17, with a volume of 1157080 shares traded. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 13.1 %

The company’s fifty day simple moving average is $9.34 and its 200 day simple moving average is $5.14. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.37 billion, a P/E ratio of -11.07 and a beta of 2.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its position in 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 acquiring an additional 255,795 shares during the period. WT Asset Management Ltd bought a new position in shares of Kingsoft Cloud during the fourth quarter valued at approximately $2,613,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $326,000. GSA Capital Partners LLP boosted its position in shares of Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. Finally, XY Capital Ltd purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter worth approximately $214,000. Hedge funds and other 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.