Investors Purchase High Volume of Kingsoft Cloud Put Options (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) saw some unusual options trading on Monday. Investors bought 12,399 put options on the company. This represents an increase of approximately 752% compared to the typical volume of 1,456 put options.

Kingsoft Cloud Stock Performance

KC stock traded up $1.79 during midday trading on Thursday, hitting $17.40. The stock had a trading volume of 7,184,494 shares, compared to its average volume of 3,252,345. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -14.50 and a beta of 2.30. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $10.12 and a 200 day simple moving average of $5.55. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $17.57.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KC. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has an average rating of "Buy" and a consensus target price of $5.93.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after buying an additional 255,795 shares in the last quarter. WT Asset Management Ltd bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at approximately $2,613,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kingsoft Cloud in the 3rd quarter worth approximately $326,000. GSA Capital Partners LLP grew its position in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after acquiring an additional 81,751 shares during the last quarter. Finally, XY Capital Ltd acquired a new stake in Kingsoft Cloud during the 3rd quarter valued at $214,000. Institutional investors own 13.40% of the company's stock.

About Kingsoft Cloud

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.