Kingsoft Cloud (NASDAQ:KC) Cut to Hold at Nomura Securities

Nomura Securities downgraded shares of Kingsoft Cloud (NASDAQ:KC) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other brokerages have also commented on KC. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura lowered Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday. Three investment analysts have 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Up 7.4 %

Shares of NASDAQ KC opened at $17.21 on Monday. Kingsoft Cloud has a one year low of $2.02 and a one year high of $22.26. The firm has a market capitalization of $4.37 billion, a PE ratio of -14.34 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $13.94 and a two-hundred day moving average price of $7.74.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KC. Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $119,000. Vise Technologies Inc. bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $125,000. Cetera Investment Advisers bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $138,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $226,000. 13.40% of the stock is owned by 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.