Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) was down 11.6% during trading on Thursday . The stock traded as low as $17.06 and last traded at $16.77. Approximately 1,032,259 shares were traded during trading, a decline of 72% from the average daily volume of 3,723,178 shares. The stock had previously closed at $18.96.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on KC shares. Nomura downgraded shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a report on Monday. Nomura Securities raised shares of 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 boosted their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.93.
Read Our Latest Report on KC
Kingsoft Cloud Stock Down 8.5 %
The firm's fifty day simple moving average is $13.63 and its 200-day simple moving average is $7.57. The company has a market cap of $3.79 billion, a PE ratio of -12.46 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.
Hedge Funds Weigh In On Kingsoft Cloud
A number of institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the third quarter worth about $119,000. Marshall Wace LLP acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $119,000. Vise Technologies Inc. purchased a new stake in Kingsoft Cloud in the 4th quarter worth approximately $125,000. Cetera Investment Advisers acquired a new position in Kingsoft Cloud in the 4th quarter valued at $138,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 worth $205,000 after purchasing an additional 2,200 shares during the period. 13.40% of the stock is owned by institutional investors and hedge funds.
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.
See Also
Before you consider Kingsoft Cloud, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kingsoft Cloud wasn't on the list.
While Kingsoft Cloud currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
