Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s stock price 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 changing hands.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on KC shares. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kingsoft Cloud currently has a consensus rating of "Buy" and a consensus target price of $5.93.
Check Out Our Latest Stock Analysis on KC
Kingsoft Cloud Price Performance
The firm's fifty day moving average price is $11.54 and its 200 day moving average price is $6.33. 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 $5.28 billion, a PE ratio of -17.34 and a beta of 2.31.
Institutional Investors Weigh In On Kingsoft Cloud
Several large investors have recently bought and sold shares of KC. SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud during the third quarter valued at $47,000. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 4,458 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the third quarter valued at about $119,000. Marshall Wace LLP acquired a new position in Kingsoft Cloud in the 4th quarter worth approximately $119,000. Finally, Cetera Investment Advisers acquired a new position in Kingsoft Cloud in the 4th quarter worth approximately $138,000. Institutional investors own 13.40% of the company's stock.
Kingsoft Cloud Company Profile
(
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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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