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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have received an average rating of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.93.

Several brokerages have recently weighed in on KC. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. 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 report on Friday, December 6th. Finally, Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd.

Kingsoft Cloud Stock Up 0.7 %

KC stock opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.98 and a beta of 2.29. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $12.84. The business has a 50-day moving average of $8.08 and a 200-day moving average of $4.56.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors have recently bought and sold shares of KC. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud during the 2nd quarter worth approximately $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud during the 3rd quarter valued at $47,000. Blue Trust Inc. boosted 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 purchasing an additional 4,458 shares during the period. Headlands Technologies LLC increased its holdings in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Kingsoft Cloud in the third quarter valued at about $119,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.