Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $18.01, but opened at $17.03. Kingsoft Cloud shares last traded at $16.47, with a volume of 1,915,957 shares.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $5.93.
Read Our Latest Stock Report on KC
Kingsoft Cloud Trading Up 1.9 %
The stock has a market capitalization of $4.90 billion, a P/E ratio of -16.11 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $12.17 and a two-hundred day moving average price of $6.66.
Institutional Investors Weigh In On Kingsoft Cloud
A number of large investors have recently modified their holdings of KC. Marshall Wace LLP bought a new position in Kingsoft Cloud in the fourth quarter valued at about $119,000. Vise Technologies Inc. bought a new stake in Kingsoft Cloud in the fourth quarter valued at approximately $125,000. Cetera Investment Advisers acquired a new position in Kingsoft Cloud in the fourth quarter valued at $138,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud during the third quarter worth approximately $47,000. Finally, Blue Trust Inc. lifted its stake in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after buying an additional 4,458 shares during the period. Institutional investors and hedge funds 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.
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