Kingsoft Cloud Sees Unusually Large Options Volume (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of unusually large options trading activity on Friday. Traders bought 5,497 call options on the company. This represents an increase of 515% compared to the average volume of 894 call options.

Wall Street Analyst Weigh In

KC has been the subject of a number of research analyst reports. Nomura upgraded shares of 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 report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. One research 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 stock. Based on data from MarketBeat, Kingsoft Cloud currently has an average rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Trading Up 23.2 %

Shares of NASDAQ:KC opened at $12.57 on Friday. The company has a market capitalization of $3.19 billion, a PE ratio of -10.48 and a beta of 2.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $12.84. The business’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $3.89.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently added to or reduced their stakes in KC. State Street Corp lifted its holdings 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 valued at $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Blue Trust Inc. increased its position 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 buying an additional 4,458 shares in the last quarter. Profund Advisors LLC purchased a new stake in Kingsoft Cloud in the second quarter valued at about $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the third quarter worth about $47,000. Finally, Renaissance Technologies LLC grew its stake in shares of Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 shares during the last quarter. 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.