Kingsoft Cloud (NASDAQ:KC) Upgraded at Nomura Securities

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

Other equities research analysts have also issued reports about the stock. Bank of America dropped 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 report on Wednesday, August 21st. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2.30 to $6.70 in a report on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kingsoft Cloud presently has an average rating of “Buy” and an average target price of $4.62.

Kingsoft Cloud Stock Performance

Shares of KC opened at $6.95 on Friday. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $7.24. 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 company has a market cap of $1.76 billion, a PE ratio of -5.79 and a beta of 2.00. The stock has a 50-day moving average price of $3.51 and a 200-day moving average price of $2.95.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of KC. Swedbank AB bought a new stake in Kingsoft Cloud in the 1st quarter worth $649,000. Blue Trust Inc. boosted its holdings in shares of Kingsoft Cloud by 30.9% during the third 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. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud in the third quarter worth about $47,000. Headlands Technologies LLC increased its holdings in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, GSA Capital Partners LLP raised its position in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after purchasing an additional 81,751 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Company Profile

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.