UBS Group Upgrades Kingsoft Cloud (NASDAQ:KC) to “Buy”

Kingsoft Cloud (NASDAQ:KC) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a $12.50 price target on the stock, up from their previous price target of $4.20. UBS Group’s target price would suggest a potential upside of 35.14% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Bank of America lowered their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Performance

Shares of NASDAQ KC opened at $9.25 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -7.71 and a beta of 2.49. The stock’s fifty day simple moving average is $4.43 and its 200 day simple moving average is $3.21. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $9.46.

Institutional Trading of Kingsoft Cloud

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Kingsoft Cloud in the third quarter worth about $326,000. Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth about $47,000. Headlands Technologies LLC lifted its position in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after purchasing an additional 11,800 shares during the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.