Kingsoft Cloud (NASDAQ:KC) Raised to “Strong-Buy” at Nomura Securities

Nomura Securities upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a hold rating to a strong-buy rating in a research report report published on Friday morning,Zacks.com reports.

KC has been the subject of several other research reports. Bank of America dropped their price objective 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. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research note on Friday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Down 3.6 %

KC stock opened at $6.95 on Friday. The firm has a 50-day moving average price of $3.51 and a 200-day moving average price of $2.95. 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 stock has a market capitalization of $1.76 billion, a P/E ratio of -5.79 and a beta of 2.00.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds have recently modified their holdings of the business. Profund Advisors LLC bought a new stake in Kingsoft Cloud in the second quarter valued at approximately $27,000. Blue Trust Inc. bought a new position in Kingsoft Cloud during the 2nd quarter worth approximately $36,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% in 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 last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud during the third quarter worth $119,000. Institutional investors and hedge funds 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.