Kingsoft Cloud (NASDAQ:KC) Stock Rating Upgraded by Nomura

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

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

Kingsoft Cloud Stock Down 3.6 %

Shares of KC stock opened at $6.95 on Friday. The stock’s fifty day moving average price is $3.51 and its 200 day moving average price is $2.95. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $7.24. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -5.79 and a beta of 2.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the company. Profund Advisors LLC acquired a new position in Kingsoft Cloud in the second quarter valued at $27,000. Blue Trust Inc. purchased a new stake in Kingsoft Cloud during the 2nd quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $47,000. Headlands Technologies LLC grew its stake in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $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 approximately $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.