Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw strong trading volume on Tuesday . 2,035,327 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 2,614,211 shares.The stock last traded at $15.13 and had previously closed at $15.14.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports 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 Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, 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 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, the stock currently has a consensus rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Trading Up 0.2 %

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’s fifty day moving average is $9.76 and its 200-day moving average is $5.39. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -12.65 and a beta of 2.30.

Institutional Investors Weigh In On Kingsoft Cloud

A number of large investors have recently bought and sold shares of the stock. XY Capital Ltd increased its stake 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 purchasing an additional 13,909 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $205,000 after acquiring an additional 2,200 shares in the last quarter. WT Asset Management Ltd purchased a new stake in Kingsoft Cloud during the 4th quarter valued at about $2,613,000. Yeomans Consulting Group Inc. purchased a new position in Kingsoft Cloud in the 4th quarter worth approximately $318,000. Finally, Jane Street Group LLC grew its holdings in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.