Kingsoft Cloud (NASDAQ:KC) Upgraded at Nomura

Nomura upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $6.70 price objective on the stock, up from their prior price objective of $2.30.

Separately, Bank of America lowered their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Up 24.7 %

Shares of NASDAQ KC opened at $7.21 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $7.24. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -6.01 and a beta of 2.00. The company’s 50-day simple moving average is $3.41 and its 200-day simple moving average is $2.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KC. Swedbank AB purchased a new position in Kingsoft Cloud in the first quarter worth approximately $649,000. Blue Trust Inc. boosted its holdings in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares during the period. SG Americas Securities LLC purchased a new stake in Kingsoft Cloud during the third quarter worth about $47,000. Headlands Technologies LLC increased its stake in Kingsoft Cloud by 313.9% during the 2nd 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, GSA Capital Partners LLP lifted its holdings in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares in the last quarter. Institutional investors and hedge funds 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.