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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) 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.

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

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.