Kingsoft Cloud (NASDAQ:KC) Cut to “Hold” at Nomura Securities

Kingsoft Cloud (NASDAQ:KC) was downgraded by analysts at Nomura Securities from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.93.

Kingsoft Cloud Trading Up 7.2 %

NASDAQ KC opened at $16.02 on Monday. 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 firm has a market capitalization of $4.06 billion, a P/E ratio of -13.35 and a beta of 2.31. The business has a fifty day simple moving average of $13.77 and a 200 day simple moving average of $7.67. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $22.26.

Institutional Investors Weigh In On Kingsoft Cloud

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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. Jane Street Group LLC raised its holdings in shares of Kingsoft Cloud by 383.5% during 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 in the last quarter. Yeomans Consulting Group Inc. bought a new stake in Kingsoft Cloud in the 4th quarter worth approximately $318,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kingsoft Cloud in the third quarter worth approximately $326,000. Finally, State Street Corp grew its position in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after acquiring an additional 3,104 shares during the last quarter. 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.