Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $16.75 and last traded at $17.22, with a volume of 1519101 shares. The stock had previously closed at $15.19.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on KC. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. One research 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's stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has a consensus rating of "Buy" and a consensus target price of $5.93.
Get Our Latest Stock Report on KC
Kingsoft Cloud Stock Down 2.6 %
The business's 50 day moving average price is $10.53 and its 200-day moving average price is $5.75. The company has a market cap of $4.30 billion, a P/E ratio of -14.12 and a beta of 2.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth about $47,000. Blue Trust Inc. grew its holdings in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after purchasing an additional 4,458 shares during the period. XY Capital Ltd acquired a new position in Kingsoft Cloud during the third quarter valued at approximately $214,000. GSA Capital Partners LLP increased its stake in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock valued at $507,000 after purchasing an additional 81,751 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud during the third quarter worth $326,000. Institutional investors own 13.40% of the company's stock.
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.
Featured Stories
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 "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
