Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Consensus Rating of “Buy” by Brokerages

Kingsoft Cloud Holdings Limited (NASDAQ:KCGet Free Report) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.93.

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

Check Out Our Latest Analysis on Kingsoft Cloud

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of KC. D. E. Shaw & Co. Inc. acquired a new position in shares of Kingsoft Cloud during the fourth quarter valued at about $21,076,000. Voloridge Investment Management LLC bought a new position in Kingsoft Cloud during the fourth quarter valued at about $16,345,000. Millennium Management LLC increased its stake in Kingsoft Cloud by 4,098.3% during the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock valued at $9,389,000 after acquiring an additional 873,686 shares during the period. Renaissance Technologies LLC raised its holdings in Kingsoft Cloud by 69.8% in the 4th quarter. Renaissance Technologies LLC now owns 867,934 shares of the company’s stock valued at $9,105,000 after acquiring an additional 356,834 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kingsoft Cloud by 628.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock worth $8,464,000 after acquiring an additional 696,094 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Trading Down 1.0 %

Shares of KC stock opened at $16.33 on Friday. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $22.26. The company has a market cap of $4.14 billion, a PE ratio of -13.61 and a beta of 2.31. 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 business’s 50 day moving average is $13.52 and its two-hundred day moving average is $7.45.

Kingsoft Cloud Company Profile

(Get Free Report

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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Analyst Recommendations for Kingsoft Cloud (NASDAQ:KC)

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