Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares saw strong trading volume on Friday . 3,266,172 shares traded hands during trading, a decline of 6% from the previous session's volume of 3,489,352 shares.The stock last traded at $20.83 and had previously closed at $17.35.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $5.93.
Check Out Our Latest Analysis on KC
Kingsoft Cloud Stock Performance
The company has a market cap of $4.82 billion, a P/E ratio of -15.83 and a beta of 2.31. 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 50 day moving average price of $11.97 and a two-hundred day moving average price of $6.57.
Hedge Funds Weigh In On Kingsoft Cloud
A number of large investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. bought a new position in Kingsoft Cloud during the 4th quarter worth $21,076,000. Voloridge Investment Management LLC bought a new position in Kingsoft Cloud during the 4th quarter worth $16,345,000. Millennium Management LLC increased its stake in Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after acquiring an additional 873,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 acquiring an additional 696,094 shares during the period. Finally, Two Sigma Investments LP bought a new position in Kingsoft Cloud during the 4th quarter worth $6,378,000. 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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