Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $16.94, but opened at $18.00. Kingsoft Cloud shares last traded at $18.43, with a volume of 1,585,477 shares traded.
Analysts Set New Price Targets
A number of brokerages have recently commented on KC. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price target for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $5.93.
Check Out Our Latest Stock Analysis on KC
Kingsoft Cloud Stock Performance
The firm has a market cap of $4.40 billion, a PE ratio of -14.46 and a beta of 2.31. The stock's 50 day moving average price is $11.14 and its 200 day moving average price is $6.07. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.
Institutional Investors Weigh In On Kingsoft Cloud
Several large investors have recently made changes to their positions in KC. Renaissance Technologies LLC grew its position in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after buying an additional 356,834 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after purchasing an additional 696,094 shares during the last quarter. State Street Corp lifted its position in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after acquiring an additional 3,104 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $6,179,000. Finally, Jane Street Group LLC increased its stake in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after acquiring an additional 255,795 shares during the period. Institutional investors and hedge funds own 13.40% of the company's stock.
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.
Further Reading
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