Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Consensus Recommendation of “Buy” by Brokerages

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been given an average rating of “Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities 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 1 year price target among brokerages that have covered the stock in the last year is $5.93.

Several equities analysts recently commented on KC shares. 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. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds have recently modified their holdings of KC. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the third quarter worth about $47,000. Blue Trust Inc. raised its position 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 valued at $56,000 after purchasing an additional 4,458 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 buying an additional 2,200 shares in the last quarter. Yeomans Consulting Group Inc. bought a new stake in shares of Kingsoft Cloud in the fourth quarter worth $318,000. Finally, Walleye Capital LLC acquired a new stake in Kingsoft Cloud in the third quarter valued at $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Down 2.6 %

Shares of NASDAQ:KC opened at $16.94 on Wednesday. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $17.57. The stock’s 50-day moving average price is $10.53 and its two-hundred day moving average price is $5.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -14.12 and a beta of 2.31.

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.