Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $9.63, but opened at $9.27. Kingsoft Cloud shares last traded at $9.28, with a volume of 448,957 shares.
Analyst Ratings Changes
KC has been the subject of several research reports. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Bank of America reduced their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Buy” and an average target price of $5.93.
Read Our Latest Stock Report on KC
Kingsoft Cloud Stock Down 4.4 %
Institutional Trading of Kingsoft Cloud
A number of institutional investors have recently bought and sold shares of KC. Profund Advisors LLC purchased a new position in Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. acquired a new stake in Kingsoft Cloud during the 2nd quarter worth $36,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud during the 3rd quarter worth $47,000. Headlands Technologies LLC boosted its stake in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Kingsoft Cloud during the 3rd quarter worth $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.
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