Analysts Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) PT at $4.10

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.62.

Several equities analysts have issued reports on the stock. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2.30 to $6.70 in a report on Friday. Bank of America reduced their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st.

Kingsoft Cloud Stock Performance

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

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently modified their holdings of KC. State Street Corp increased its holdings in shares of Kingsoft Cloud by 0.5% in the 3rd 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 period. Blue Trust Inc. increased 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 acquiring an additional 4,458 shares in the last quarter. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud during the second quarter valued at $27,000. Swedbank AB increased its stake in Kingsoft Cloud by 5.5% in the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after buying an additional 11,800 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the third quarter valued at about $47,000. Institutional investors 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.