Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $8.40, but opened at $8.96. Kingsoft Cloud shares last traded at $8.95, with a volume of 678,091 shares changing hands.
Analyst Ratings Changes
KC has been the topic of a number of research analyst reports. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Nomura upgraded shares of 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 research report on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.93.
Read Our Latest Research Report on Kingsoft Cloud
Kingsoft Cloud Stock Performance
Hedge Funds Weigh In On Kingsoft Cloud
Several hedge funds have recently made changes to their positions in the company. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud during the second quarter worth approximately $27,000. Blue Trust Inc. acquired a new position in Kingsoft Cloud in the second quarter valued at $36,000. SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after buying an additional 24,932 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud during the third quarter worth about $119,000. Hedge funds and other institutional investors 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.
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