Kingsoft Cloud Target of Unusually High Options Trading (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) was the recipient of unusually large options trading on Friday. Traders purchased 5,497 call options on the stock. This is an increase of approximately 515% compared to the average daily volume of 894 call options.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after purchasing an additional 3,104 shares during the period. Blue Trust Inc. boosted its stake in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after buying an additional 4,458 shares during the period. Profund Advisors LLC bought a new position in Kingsoft Cloud during the second quarter valued at $27,000. SG Americas Securities LLC bought a new position in Kingsoft Cloud during the third quarter valued at $47,000. Finally, Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock valued at $1,156,000 after acquiring an additional 17,700 shares during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Price Performance

Shares of KC stock traded up $2.37 during trading hours on Friday, hitting $12.57. The stock had a trading volume of 10,751,798 shares, compared to its average volume of 1,833,255. 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 stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -10.48 and a beta of 2.49. Kingsoft Cloud has a one year low of $2.02 and a one year high of $12.84. The stock's 50-day moving average price is $6.24 and its two-hundred day moving average price is $3.88.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $5.93.

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.