Kingsoft Cloud (NASDAQ:KC) Stock Rating Upgraded by Nomura

Kingsoft Cloud (NASDAQ:KC) was upgraded by equities researchers at Nomura from a “neutral” rating to a “buy” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $6.70 price objective on the stock, up from their prior price objective of $2.30. Nomura’s target price would indicate a potential downside of 7.07% from the company’s current price.

Separately, Bank of America reduced their price objective 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 analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.62.

Kingsoft Cloud Price Performance

Shares of KC opened at $7.21 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $7.24. The company has a market cap of $1.83 billion, a P/E ratio of -6.01 and a beta of 2.00. The firm’s 50 day moving average price is $3.41 and its 200 day moving average price is $2.92.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its position 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 valued at $948,000 after buying an additional 255,795 shares during the last quarter. Swedbank AB purchased a new stake in Kingsoft Cloud in the 1st quarter worth approximately $649,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kingsoft Cloud in the 3rd quarter valued at $326,000. GSA Capital Partners LLP lifted its stake 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 during the period. Finally, XY Capital Ltd acquired a new stake in shares of Kingsoft Cloud during the third quarter worth $214,000. Institutional investors and hedge funds 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.