Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price shot up 6.4% during mid-day trading on Tuesday . The stock traded as high as $15.69 and last traded at $15.91. 2,137,454 shares traded hands during trading, a decline of 43% from the average session volume of 3,773,210 shares. The stock had previously closed at $14.96.
Analysts Set New Price Targets
Several brokerages recently issued reports on KC. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price target for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Nomura Securities cut Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Nomura cut Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Kingsoft Cloud presently has a consensus rating of "Moderate Buy" and an average price target of $5.93.
Read Our Latest Stock Report on Kingsoft Cloud
Kingsoft Cloud Price Performance
The business has a fifty day moving average of $14.09 and a 200-day moving average of $7.80. The firm has a market cap of $4.45 billion, a PE ratio of -14.62 and a beta of 2.23. 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 Trading of Kingsoft Cloud
Institutional investors and hedge funds have recently modified their holdings of the business. Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $119,000. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $119,000. Vise Technologies Inc. bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $125,000. Cetera Investment Advisers bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $138,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors 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.
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