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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have earned an average rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.93.

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

Kingsoft Cloud Stock Down 2.6 %

NASDAQ:KC opened at $16.94 on Wednesday. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $17.57. The stock’s fifty day moving average is $10.53 and its two-hundred day moving average is $5.75. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -14.12 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.

Institutional Investors Weigh In On Kingsoft Cloud

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