Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Monday . 1,995,685 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 1,767,139 shares.The stock last traded at $11.36 and had previously closed at $10.79.

Analysts Set New Price Targets

A number of research firms have recently commented on KC. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50-day moving average price is $9.24 and its two-hundred day moving average price is $5.09. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -9.98 and a beta of 2.29.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently made changes to their positions in KC. Jane Street Group LLC lifted its holdings 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 acquiring an additional 255,795 shares during the last quarter. Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud during the 4th quarter worth approximately $318,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth approximately $326,000. State Street Corp boosted its position in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the period. Finally, Blue Trust Inc. grew its stake in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 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.