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
(
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.
Read More
Before you consider Kingsoft Cloud, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kingsoft Cloud wasn't on the list.
While Kingsoft Cloud currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
