Investors Buy High Volume of Put Options on Kingsoft Cloud (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of unusually large options trading on Monday. Investors acquired 12,399 put options on the stock. This represents an increase of 752% compared to the average daily volume of 1,456 put options.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Stock Up 0.3 %

Shares of NASDAQ KC opened at $15.19 on Wednesday. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $16.34. 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 firm has a market cap of $3.85 billion, a PE ratio of -12.66 and a beta of 2.30. The company has a 50 day simple moving average of $9.76 and a 200 day simple moving average of $5.39.

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the third quarter worth approximately $47,000. Blue Trust Inc. raised its holdings 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 purchasing an additional 4,458 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. Finally, XY Capital Ltd bought a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at $214,000. Institutional investors 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.