Kingsoft Cloud (NASDAQ:KC) Rating Increased to Buy at Nomura

Nomura upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat.com reports. The firm currently has $6.70 target price on the stock, up from their previous target price of $2.30.

Separately, Bank of America lowered their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kingsoft Cloud presently has an average rating of “Moderate Buy” and an average price target of $4.62.

Kingsoft Cloud Price Performance

Shares of NASDAQ:KC opened at $7.21 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.67. Kingsoft Cloud has a one year low of $2.02 and a one year high of $7.24. The company has a 50-day simple moving average of $3.41 and a 200-day simple moving average of $2.92. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.01 and a beta of 2.00.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Profund Advisors LLC purchased a new stake in Kingsoft Cloud during the second quarter worth $27,000. Blue Trust Inc. acquired a new stake in shares of Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the third quarter worth about $119,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.