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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.93.

Several analysts recently commented on KC shares. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. 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 research note on Friday, November 22nd. Finally, UBS Group raised 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.

Kingsoft Cloud Trading Up 14.0 %

Shares of NASDAQ:KC opened at $9.58 on Tuesday. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $9.77. 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 company has a market cap of $2.43 billion, a PE ratio of -7.98 and a beta of 2.49. The company’s 50-day moving average price is $5.52 and its 200 day moving average price is $3.63.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors have recently bought and sold shares of KC. Profund Advisors LLC acquired a new stake in Kingsoft Cloud during the 2nd quarter valued at $27,000. Blue Trust Inc. acquired a new position in Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the third quarter valued at $47,000. Headlands Technologies LLC boosted its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the period. Finally, Walleye Capital LLC purchased a new position in Kingsoft Cloud during the 3rd quarter valued at about $119,000. Hedge funds and other 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.