Brokerages Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) PT at $5.93

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the company, Marketbeat.com reports. One research 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. The average 1 year price objective among analysts that have covered the stock in the last year is $5.93.

KC has been the subject of several research reports. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently made changes to their positions in KC. State Street Corp raised its stake in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Jane Street Group LLC increased its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. WT Asset Management Ltd bought a new position in Kingsoft Cloud during the 4th quarter valued at about $2,613,000. GSA Capital Partners LLP grew its stake in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after buying an additional 81,751 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud during the third quarter worth about $326,000. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Stock Performance

Shares of NASDAQ:KC traded down $0.46 during midday trading on Wednesday, hitting $16.94. The company's stock had a trading volume of 3,506,236 shares, compared to its average volume of 3,374,387. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock's 50 day simple moving average is $10.53 and its 200 day simple moving average is $5.73. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -14.12 and a beta of 2.31. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $17.57.

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.