Nomura downgraded shares of Kingsoft Cloud (NASDAQ:KC - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports.
Several other research firms have also recently issued reports on KC. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $5.93.
Get Our Latest Stock Analysis on Kingsoft Cloud
Kingsoft Cloud Stock Performance
NASDAQ:KC traded up $0.38 during midday trading on Monday, reaching $17.59. The stock had a trading volume of 5,755,348 shares, compared to its average volume of 3,899,564. 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 stock has a market cap of $4.46 billion, a P/E ratio of -14.66 and a beta of 2.23. The firm has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $7.74. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $22.26.
Institutional Investors Weigh In On Kingsoft Cloud
Several institutional investors have recently modified their holdings of KC. D. E. Shaw & Co. Inc. purchased a new position in Kingsoft Cloud in the 4th quarter valued at approximately $21,076,000. Voloridge Investment Management LLC purchased a new position in shares of Kingsoft Cloud in the fourth quarter valued at $16,345,000. Millennium Management LLC increased its position in shares of Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after buying an additional 873,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Kingsoft Cloud by 628.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after buying an additional 696,094 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Kingsoft Cloud in the 4th quarter worth about $6,378,000. Hedge funds and other institutional investors own 13.40% of the company's stock.
About Kingsoft Cloud
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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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