Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $12.57, but opened at $14.92. Kingsoft Cloud shares last traded at $15.96, with a volume of 4,977,441 shares traded.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on KC. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. One equities 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. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $5.93.
Read Our Latest Stock Report on KC
Kingsoft Cloud Trading Down 2.6 %
The company has a market capitalization of $4.30 billion, a PE ratio of -14.12 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's fifty day moving average price is $10.53 and its two-hundred day moving average price is $5.73.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter worth about $47,000. Blue Trust Inc. boosted its holdings in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after acquiring an additional 4,458 shares in the last quarter. Walleye Capital LLC bought a new position in Kingsoft Cloud in the 3rd quarter worth about $119,000. Mirae Asset Global Investments Co. Ltd. grew its position 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. Finally, XY Capital Ltd bought a new stake in Kingsoft Cloud during the 3rd quarter valued at about $214,000. 13.40% of the stock is owned by hedge funds and other 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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