Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Monday . 1,995,685 shares changed hands during trading, an increase of 13% from the previous session’s volume of 1,767,139 shares.The stock last traded at $11.36 and had previously closed at $10.79.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a fifty day moving average of $8.95 and a two-hundred day moving average of $4.97. The stock has a market capitalization of $2.86 billion, a P/E ratio of -9.47 and a beta of 2.29.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in KC. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud during the 2nd quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Blue Trust Inc. grew its stake in shares of Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares during the last quarter. Yeomans Consulting Group Inc. acquired a new stake in shares of Kingsoft Cloud in the fourth quarter worth $318,000. Finally, Walleye Capital LLC purchased a new position in shares of Kingsoft Cloud during the third quarter valued at $119,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

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.