Kingsoft Cloud (NASDAQ:KC) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Kingsoft Cloud (NASDAQ:KC - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports. UBS Group currently has $12.50 price target on the stock, up from their previous price target of $4.20.

Several other equities research analysts have also recently weighed in on KC. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $5.93.

Kingsoft Cloud Trading Up 3.7 %

KC stock traded up $0.33 during trading on Friday, hitting $9.25. 4,850,535 shares of the company traded hands, compared to its average volume of 1,717,976. 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 company has a 50-day moving average of $4.30 and a 200-day moving average of $3.17. The firm has a market capitalization of $2.35 billion, a PE ratio of -7.63 and a beta of 2.49. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $9.46.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after buying an additional 3,104 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock worth $1,156,000 after acquiring an additional 17,700 shares during the period. Jane Street Group LLC grew its stake in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after acquiring an additional 255,795 shares during the period. Swedbank AB lifted its position in Kingsoft Cloud by 5.5% during the second quarter. Swedbank AB now owns 225,140 shares of the company's stock valued at $565,000 after purchasing an additional 11,800 shares during the period. Finally, GSA Capital Partners LLP lifted its position in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock valued at $507,000 after purchasing an additional 81,751 shares during the period. Hedge funds and other institutional investors own 13.40% of the company's stock.

About Kingsoft Cloud

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.