Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Consensus Recommendation of “Buy” by Brokerages

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.62.

A number of analysts recently weighed in on KC shares. Bank of America cut their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in shares of 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 buying an additional 3,104 shares during the period. Renaissance Technologies LLC increased its holdings in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Jane Street Group LLC increased its holdings in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares during the last quarter. Swedbank AB increased its holdings in Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after purchasing an additional 11,800 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares during the last quarter. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Trading Down 14.1 %

Shares of KC stock opened at $5.97 on Friday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -4.98 and a beta of 2.00. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $7.24. The company’s 50-day moving average price is $3.58 and its 200-day moving average price is $2.97. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

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.