Kingsoft Cloud (NASDAQ:KC) Shares Gap Up to $2.87

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up prior to trading on Friday . The stock had previously closed at $2.87, but opened at $3.05. Kingsoft Cloud shares last traded at $3.28, with a volume of 728,901 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KC. Jefferies Financial Group increased their target price on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research note 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 on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Finally, CLSA upgraded shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target on the stock in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Kingsoft Cloud presently has an average rating of “Moderate Buy” and a consensus price target of $4.55.

Kingsoft Cloud Stock Performance

The company’s fifty day simple moving average is $2.98 and its 200-day simple moving average is $3.57. The company has a market capitalization of $801.66 million, a P/E ratio of -2.45 and a beta of 2.13.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Wednesday, March 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. The business had revenue of $242.60 million for the quarter, compared to the consensus estimate of $240.44 million. On average, sell-side analysts predict that Kingsoft Cloud Holdings Limited will post -0.45 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of 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 in the last quarter. Jump Financial LLC bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at about $136,000. Russell Investments Group Ltd. raised its position in shares of Kingsoft Cloud by 35.6% in the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock valued at $229,000 after purchasing an additional 15,913 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $229,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $677,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.