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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have received a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.93.

Several brokerages recently weighed in on KC. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group raised shares of 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 research report on Friday, December 6th. Finally, Bank of America lowered their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. State Street Corp boosted its stake in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after buying an additional 3,104 shares during the period. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the third quarter worth about $119,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud during the third quarter worth approximately $326,000. Finally, GSA Capital Partners LLP raised its holdings in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after acquiring an additional 81,751 shares in the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Performance

NASDAQ:KC opened at $8.94 on Tuesday. The company’s 50-day moving average is $5.09 and its two-hundred day moving average is $3.48. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -7.45 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $9.70.

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.