Kingsoft Cloud (NASDAQ:KC) Upgraded at UBS Group

Kingsoft Cloud (NASDAQ:KC) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat reports. The firm presently has a $12.50 price target on the stock, up from their prior price target of $4.20. UBS Group’s price objective points to a potential upside of 40.13% from the company’s current price.

Several other research analysts also recently commented on KC. Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a 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 MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Up 9.3 %

Shares of NASDAQ:KC opened at $8.92 on Friday. The firm has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $3.17. 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 one year low of $2.02 and a one year high of $9.46. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -7.43 and a beta of 2.49.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in Kingsoft Cloud by 383.5% in the third 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud in the third quarter worth $326,000. GSA Capital Partners LLP lifted its stake in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares during the last quarter. XY Capital Ltd bought a new stake in Kingsoft Cloud in the third quarter worth $214,000. Finally, Walleye Capital LLC bought a new stake in Kingsoft Cloud in the third quarter worth $119,000. 13.40% of the stock is owned by 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.