Kingsoft Cloud Sees Unusually Large Options Volume (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of unusually large options trading on Friday. Stock traders purchased 5,497 call options on the stock. This represents an increase of approximately 515% compared to the typical volume of 894 call options.

Kingsoft Cloud Stock Up 23.2 %

Shares of NASDAQ:KC opened at $12.57 on Friday. The company has a 50-day moving average price of $6.24 and a 200 day moving average price of $3.89. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $12.84. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -10.48 and a beta of 2.49.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of KC. Jane Street Group LLC boosted its stake in shares of 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 period. State Street Corp lifted its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $119,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $326,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares during the period. Hedge funds and other 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.