Kingsoft Cloud (NASDAQ:KC) Stock Price Up 12.7% – What’s Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) were up 12.7% during mid-day trading on Wednesday . The stock traded as high as $6.85 and last traded at $6.73. Approximately 1,246,507 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 1,633,872 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KC shares. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Finally, Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Trading Up 17.4 %

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’s 50 day moving average is $3.77 and its two-hundred day moving average is $3.02.

Institutional Investors Weigh In On Kingsoft Cloud

A number of large investors have recently bought and sold shares of KC. State Street Corp raised its stake in shares of Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares during the last quarter. Blue Trust Inc. lifted its holdings in Kingsoft Cloud by 30.9% during the 3rd 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. Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the 2nd quarter valued at $27,000. Swedbank AB raised its position in shares of Kingsoft Cloud by 5.5% during the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the third quarter worth $47,000. 13.40% of the stock is currently owned by institutional investors.

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.