Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives $5.93 Consensus PT from Analysts

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have received a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.93.

KC has been the topic of several research analyst reports. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th.

Kingsoft Cloud Trading Down 10.4 %

NASDAQ KC opened at $9.15 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.32 billion, a PE ratio of -7.63 and a beta of 2.29. The company has a 50 day moving average price of $7.96 and a 200 day moving average price of $4.51. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $12.84.

Hedge Funds Weigh In On Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in KC. Profund Advisors LLC acquired a new position in Kingsoft Cloud during the second quarter worth $27,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the third quarter worth $47,000. Blue Trust Inc. raised its position in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the period. Headlands Technologies LLC raised its position in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at 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.