Kingsoft Cloud (NASDAQ:KC) Cut to “Neutral” at Nomura

Nomura lowered shares of Kingsoft Cloud (NASDAQ:KC) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat reports.

Several other equities analysts have also recently weighed in on KC. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

Shares of NASDAQ KC opened at $17.21 on Monday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -14.34 and a beta of 2.31. The business has a 50-day moving average of $13.94 and a 200-day moving average of $7.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $22.26.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. Walleye Capital LLC acquired a new stake in Kingsoft Cloud during the third quarter worth approximately $119,000. Marshall Wace LLP acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $119,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $125,000. Cetera Investment Advisers acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $138,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the last quarter. 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.