Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) reached a new 52-week high during trading on Saturday . The stock traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares changing hands. The stock had previously closed at $8.40.
Wall Street Analysts Forecast Growth
KC has been the topic of several recent research reports. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price target for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price target for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $5.93.
View Our Latest Report on KC
Kingsoft Cloud Stock Up 14.0 %
The firm has a market capitalization of $2.43 billion, a PE ratio of -7.98 and a beta of 2.49. The firm's 50-day moving average is $5.52 and its 200 day moving average is $3.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in KC. Blue Trust Inc. purchased a new stake in Kingsoft Cloud in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC grew its position in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Renaissance Technologies LLC increased its stake in Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock valued at $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Profund Advisors LLC purchased a new position in Kingsoft Cloud during the second quarter worth about $27,000. Finally, SG Americas Securities LLC purchased a new stake in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 13.40% of the company's stock.
About Kingsoft Cloud
(
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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