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

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

Wall Street Analysts Forecast Growth

KC has been the topic of several research reports. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Nomura Securities downgraded Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Stock Performance

The business’s fifty day moving average is $14.61 and its 200-day moving average is $11.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.13 billion, a PE ratio of -12.69 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly 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. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company’s revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. As a group, research analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new position in shares of Kingsoft Cloud in the first quarter worth about $65,000. Marshall Wace LLP purchased a new stake in Kingsoft Cloud during the fourth quarter valued at approximately $119,000. Vise Technologies Inc. bought a new stake in Kingsoft Cloud in the fourth quarter worth $125,000. Personal CFO Solutions LLC bought a new stake in shares of Kingsoft Cloud in the 1st quarter worth about $176,000. Finally, Cetera Investment Advisers purchased a new position in shares of Kingsoft Cloud during the fourth quarter valued at approximately $138,000. 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.