Nomura Downgrades Kingsoft Cloud (NASDAQ:KC) to Neutral

Kingsoft Cloud (NASDAQ:KC) was downgraded by analysts at Nomura from a “buy” rating to a “neutral” rating in a report issued on Monday, Marketbeat Ratings reports.

Several other research firms have also weighed in on KC. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 7.2 %

NASDAQ:KC opened at $16.02 on Monday. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $22.26. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -13.35 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $13.77 and its 200 day moving average price is $7.67.

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently made changes to their positions in KC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 shares during the period. Jane Street Group LLC boosted its holdings in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the period. Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $318,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the third quarter worth about $326,000. Finally, State Street Corp lifted 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 last quarter. Institutional investors and hedge funds 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.