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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.93.

Several brokerages have recently weighed in on KC. Nomura upgraded 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 report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd.

Institutional Trading of Kingsoft Cloud

Several institutional investors have recently added to or reduced their stakes in KC. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock worth $8,464,000 after purchasing an additional 696,094 shares in the last quarter. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Jane Street Group LLC boosted its position in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares during the period. WT Asset Management Ltd purchased a new position in Kingsoft Cloud in the 4th quarter valued at approximately $2,613,000. Finally, GSA Capital Partners LLP boosted its position in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after buying an additional 81,751 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Stock Performance

NASDAQ:KC opened at $17.04 on Wednesday. The company’s 50-day moving average price is $10.75 and its 200-day moving average price is $5.88. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.32 billion, a P/E ratio of -14.20 and a beta of 2.31. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $18.74.

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.