Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives Average Rating of “Buy” from Analysts

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given an average rating of “Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.93.

KC has been the subject of a number of analyst reports. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd.

Kingsoft Cloud Trading Down 1.0 %

Shares of NASDAQ KC opened at $16.33 on Friday. The business has a fifty day simple moving average of $13.52 and a 200-day simple moving average of $7.45. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -13.61 and a beta of 2.31. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $22.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. acquired a new position in Kingsoft Cloud in the fourth quarter worth approximately $21,076,000. Voloridge Investment Management LLC bought a new stake in Kingsoft Cloud in the fourth quarter worth approximately $16,345,000. Millennium Management LLC increased its stake in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock worth $9,389,000 after purchasing an additional 873,686 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kingsoft Cloud by 69.8% during the 4th quarter. Renaissance Technologies LLC now owns 867,934 shares of the company’s stock valued at $9,105,000 after purchasing an additional 356,834 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kingsoft Cloud by 628.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock valued at $8,464,000 after purchasing an additional 696,094 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.