Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $17.52, but opened at $16.75. Kingsoft Cloud shares last traded at $16.52, with a volume of 208,870 shares changing hands.
Wall Street Analyst Weigh In
KC has been the subject of a number of recent research reports. Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura downgraded Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud presently has a consensus rating of "Moderate Buy" and an average target price of $5.93.
Read Our Latest Report on Kingsoft Cloud
Kingsoft Cloud Stock Performance
The business's fifty day simple moving average is $14.57 and its 200-day simple moving average is $8.26. The company has a market capitalization of $4.27 billion, a P/E ratio of -14.07 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Walleye Capital LLC purchased a new stake in Kingsoft Cloud during the third quarter valued at approximately $119,000. Marshall Wace LLP purchased a new position in Kingsoft Cloud during the fourth quarter worth $119,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud during the fourth quarter valued at $125,000. Cetera Investment Advisers purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at $138,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.
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.
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