Kingsoft Cloud (NASDAQ:KC) Cut to "Hold" at Nomura Securities

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was downgraded by equities research analysts at Nomura Securities from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on KC. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $5.93.

Kingsoft Cloud Price Performance

NASDAQ KC traded down $0.05 on Monday, reaching $17.54. 2,825,002 shares of the stock traded hands, compared to its average volume of 3,875,911. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $22.26. 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 firm's fifty day simple moving average is $14.18 and its 200 day simple moving average is $7.95. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -14.62 and a beta of 2.23.

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Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new position in Kingsoft Cloud in the 4th quarter valued at approximately $609,000. GTS Securities LLC acquired a new position in shares of Kingsoft Cloud in the fourth quarter worth $325,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud during the fourth quarter worth $125,000. Voloridge Investment Management LLC acquired a new stake in Kingsoft Cloud during the fourth quarter valued at $16,345,000. Finally, Vident Advisory LLC boosted its position in Kingsoft Cloud by 158.9% during the fourth quarter. Vident Advisory LLC now owns 89,794 shares of the company's stock valued at $942,000 after purchasing an additional 55,113 shares during the last quarter. 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.