Kingsoft Cloud (NASDAQ:KC) Stock Price Up 9.3% – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price was up 9.3% during mid-day trading on Friday . The company traded as high as $15.09 and last traded at $15.27. Approximately 1,070,251 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,808,994 shares. The stock had previously closed at $13.97.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Trading Up 9.0 %

The stock has a market capitalization of $4.13 billion, a PE ratio of -12.69 and a beta of 2.23. 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’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $11.21.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kingsoft Cloud during the 1st quarter worth approximately $65,000. Marshall Wace LLP acquired a new stake in Kingsoft Cloud during the fourth quarter worth $119,000. Vise Technologies Inc. purchased a new stake in Kingsoft Cloud in the fourth quarter valued at $125,000. Cetera Investment Advisers acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at $138,000. Finally, Personal CFO Solutions LLC purchased a new position in shares of Kingsoft Cloud during the 1st quarter worth $176,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.