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

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

KC has been the topic of a number of other reports. Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $4.62.

Kingsoft Cloud Stock Performance

Shares of Kingsoft Cloud stock opened at $6.95 on Friday. The business’s fifty day simple moving average is $3.51 and its 200 day simple moving average is $2.95. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $7.24. The firm has a market capitalization of $1.76 billion, a P/E ratio of -5.79 and a beta of 2.00.

Institutional Trading of Kingsoft Cloud

A number of institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its stake in shares of Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after purchasing an additional 35,175 shares during the period. Swedbank AB bought a new position in Kingsoft Cloud in the 1st quarter worth about $649,000. Blue Trust Inc. purchased a new position in Kingsoft Cloud during the 2nd quarter valued at about $36,000. Headlands Technologies LLC increased its position in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after buying an additional 17,700 shares in the last quarter. 13.40% of the stock is currently owned by hedge funds and other 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.