Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Average Recommendation of “Buy” by Brokerages

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.93.

Several research analysts have weighed in on KC shares. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KC. State Street Corp lifted its holdings in shares of Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares during the last quarter. Renaissance Technologies LLC boosted its position in Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after buying an additional 17,700 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after buying an additional 255,795 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the 3rd quarter valued at $326,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Stock Down 1.6 %

Shares of Kingsoft Cloud stock opened at $10.21 on Friday. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $12.84. 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 business’s 50 day simple moving average is $7.83 and its 200 day simple moving average is $4.44. The firm has a market cap of $2.59 billion, a PE ratio of -8.51 and a beta of 2.29.

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.