Kingsoft Cloud (NASDAQ:KC) Trading Up 7.8%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were up 7.8% during trading on Wednesday . The company traded as high as $2.69 and last traded at $2.64. Approximately 992,519 shares changed hands during trading, a decline of 13% from the average daily volume of 1,144,743 shares. The stock had previously closed at $2.45.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KC shares. Jefferies Financial Group lifted their target price on Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a research report on Monday, March 25th. Citigroup upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Thursday, March 21st. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research report on Monday, March 11th. Finally, CLSA upgraded Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price objective for the company in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4.55.

Kingsoft Cloud Trading Up 5.7 %

The business’s 50-day moving average is $2.96 and its two-hundred day moving average is $2.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $657.06 million, a PE ratio of -2.28 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $245.93 million during the quarter, compared to analysts’ expectations of $244.03 million. Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. On average, analysts predict that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of KC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kingsoft Cloud by 11.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock valued at $1,241,000 after purchasing an additional 33,411 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Kingsoft Cloud by 35.6% during the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Kingsoft Cloud during the 4th quarter worth $136,000. Vanguard Personalized Indexing Management LLC grew its stake in Kingsoft Cloud by 50.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after buying an additional 5,126 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Kingsoft Cloud by 3.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after buying an additional 20,084 shares during the last quarter. 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.