Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives $5.93 Consensus Target Price from Analysts

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) has earned a consensus rating of "Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.93.

A number of equities research analysts have commented on the stock. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th.

Kingsoft Cloud Trading Down 1.6 %

NASDAQ KC traded down $0.17 during mid-day trading on Friday, reaching $10.21. 1,582,788 shares of the stock were exchanged, compared to its average volume of 2,033,731. 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 cap of $2.59 billion, a P/E ratio of -8.51 and a beta of 2.29. The stock has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $4.45. Kingsoft Cloud has a one year low of $2.02 and a one year high of $12.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC boosted its holdings in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock worth $83,000 after buying an additional 24,932 shares during the period. Renaissance Technologies LLC boosted its holdings 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 worth $1,156,000 after acquiring an additional 17,700 shares during the period. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud in the second quarter valued at $27,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud in the third quarter valued at $47,000. Finally, Blue Trust Inc. raised its stake in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after purchasing an additional 4,458 shares during the period. 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.