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.
Read Our Latest Research Report on KC
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.
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
(
Get Free Report)
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.
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