Nomura Securities upgraded shares of Kingsoft Cloud (NASDAQ:KC - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.
A number of other analysts have also weighed in on KC. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the stock from $2.30 to $6.70 in a research note on Friday. Bank of America lowered their target price on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $4.62.
View Our Latest Analysis on KC
Kingsoft Cloud Trading Down 14.1 %
KC traded down $0.98 during trading on Friday, hitting $5.97. 4,518,553 shares of the company's stock were exchanged, compared to its average volume of 1,637,080. 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 firm has a market cap of $1.51 billion, a P/E ratio of -4.98 and a beta of 2.00. The stock has a 50 day moving average price of $3.58 and a 200 day moving average price of $2.97. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $7.24.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after purchasing an additional 255,795 shares during the last quarter. Swedbank AB bought a new position in Kingsoft Cloud during the first quarter worth about $649,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud in the 3rd quarter valued at about $326,000. GSA Capital Partners LLP grew its position in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. Finally, XY Capital Ltd acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. 13.40% of the stock is owned by institutional investors and hedge funds.
About Kingsoft Cloud
(
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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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