Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.77, but opened at $3.10. Kingsoft Cloud shares last traded at $3.15, with a volume of 937,010 shares traded.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Price Performance

The stock has a market cap of $829.57 million, a price-to-earnings ratio of -3.05 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $2.71 and its two-hundred day simple moving average is $2.75.

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 the consensus estimate of ($0.16) by ($0.04). The company had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. On average, analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the business. Profund Advisors LLC bought a new position in Kingsoft Cloud in the 2nd quarter worth approximately $27,000. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the third quarter worth about $47,000. Headlands Technologies LLC lifted its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, XY Capital Ltd bought a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $214,000. 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.