Kingsoft Cloud (NASDAQ:KC) Reaches New 12-Month High – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $13.07 and last traded at $13.17, with a volume of 1157080 shares changing hands. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

A number of analysts recently commented on KC shares. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud currently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Performance

The company has a market cap of $3.19 billion, a price-to-earnings ratio of -10.48 and a beta of 2.29. 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 firm has a fifty day simple moving average of $9.60 and a 200 day simple moving average of $5.26.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently bought and sold shares of the business. XY Capital Ltd lifted its holdings in shares of Kingsoft Cloud by 19.1% during the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after acquiring an additional 13,909 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares during the period. WT Asset Management Ltd bought a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $2,613,000. Yeomans Consulting Group Inc. bought a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $318,000. Finally, Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% in 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. 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.