Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives Average Recommendation of “Buy” from Analysts

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have earned an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.93.

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

Kingsoft Cloud Stock Down 7.2 %

KC stock 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 debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $18.74. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -14.20 and a beta of 2.31.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Kingsoft Cloud in the third quarter valued at approximately $47,000. Blue Trust Inc. boosted its stake 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 purchasing an additional 4,458 shares during the period. Walleye Capital LLC acquired a new stake in Kingsoft Cloud during the 3rd quarter worth $119,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. Finally, XY Capital Ltd acquired a new stake in Kingsoft Cloud during the 3rd quarter worth $214,000. Hedge funds and other institutional investors 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.