Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares traded up 5.5% during trading on Wednesday . The stock traded as high as $18.03 and last traded at $17.98. 1,486,472 shares changed hands during trading, a decline of 55% from the average session volume of 3,280,117 shares. The stock had previously closed at $17.04.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on KC. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. One 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's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $5.93.
Get Our Latest Report on KC
Kingsoft Cloud Trading Up 19.9 %
The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day moving average price of $11.54 and a 200-day moving average price of $6.30.
Institutional Trading of Kingsoft Cloud
Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud during the fourth quarter valued at approximately $119,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud during the 3rd quarter valued at $47,000. Blue Trust Inc. lifted its stake in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kingsoft Cloud by 12.7% in 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 in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth about $226,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.
Kingsoft Cloud Company Profile
(
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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