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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given an average rating of “Buy” by the eight analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.93.

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

Kingsoft Cloud Price Performance

KC opened at $15.19 on Wednesday. The firm has a 50-day moving average price of $9.76 and a 200-day moving average price of $5.39. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $16.34. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -12.66 and a beta of 2.30.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its position 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 valued at $948,000 after buying an additional 255,795 shares during the period. WT Asset Management Ltd purchased a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $2,613,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the 3rd quarter worth approximately $326,000. GSA Capital Partners LLP lifted its stake in shares of Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after purchasing an additional 81,751 shares during the period. Finally, XY Capital Ltd bought a new stake in shares of Kingsoft Cloud during the third quarter valued at approximately $214,000. 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.