Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Average Recommendation of “Buy” by Analysts

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given an average rating of “Buy” by the seven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.62.

KC has been the subject of several recent analyst reports. Bank of America lowered their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd.

Kingsoft Cloud Stock Up 17.4 %

KC opened at $7.01 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -5.84 and a beta of 2.00. The business’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $3.02. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $7.30. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Kingsoft Cloud

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the period. Blue Trust Inc. grew its stake in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares during the last quarter. Profund Advisors LLC acquired a new stake in Kingsoft Cloud in the second quarter worth $27,000. Swedbank AB lifted its stake in Kingsoft Cloud by 5.5% in the second 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the third quarter valued at $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.