Investors Purchase Large Volume of Put Options on Kingsoft Cloud (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw some unusual options trading on Monday. Stock traders purchased 12,399 put options on the stock. This is an increase of 752% compared to the typical volume of 1,456 put options.

Kingsoft Cloud Trading Up 22.1 %

Shares of NASDAQ KC traded up $2.78 during mid-day trading on Monday, hitting $15.35. The stock had a trading volume of 9,906,574 shares, compared to its average volume of 2,622,407. The business has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $5.30. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $16.34. The firm has a market cap of $3.89 billion, a P/E ratio of -12.70 and a beta of 2.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Analyst Upgrades and Downgrades

KC has been the topic of several research reports. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.93.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after buying an additional 2,200 shares during the period. State Street Corp boosted its stake in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. XY Capital Ltd raised its stake in shares of Kingsoft Cloud by 19.1% in the fourth 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. Finally, SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter valued at $47,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.