Kingsoft Cloud (NASDAQ:KC) Trading Up 6.1% – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $11.43 and last traded at $11.67. 727,597 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,947,246 shares. The stock had previously closed at $11.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KC. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Performance

The stock has a market capitalization of $3.37 billion, a P/E ratio of -11.07 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The business’s fifty day moving average price is $9.34 and its two-hundred day moving average price is $5.14.

Institutional Trading of Kingsoft Cloud

A number of institutional investors have recently made changes to their positions in KC. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter valued at $47,000. Blue Trust Inc. boosted its stake in shares of Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $119,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the last quarter. Finally, XY Capital Ltd acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at about $214,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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.