Kingsoft Cloud (NASDAQ:KC) Sets New 1-Year High – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC) hit a new 52-week high during trading on Monday . The company traded as high as $7.55 and last traded at $7.55, with a volume of 104055 shares trading hands. The stock had previously closed at $6.69.

Analysts Set New Price Targets

Several research firms have commented on KC. 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. Bank of America lowered their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Trading Up 12.7 %

The firm has a market capitalization of $1.91 billion, a P/E ratio of -5.58 and a beta of 2.00. The business has a 50-day moving average price of $3.86 and a 200-day moving average price of $3.04. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Trading of Kingsoft Cloud

Several institutional investors have recently bought and sold shares of KC. Swedbank AB bought a new position in shares of Kingsoft Cloud in the first quarter valued at approximately $649,000. Blue Trust Inc. bought a new position in Kingsoft Cloud in the 2nd quarter valued at $36,000. Headlands Technologies LLC boosted its stake in Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter valued at $27,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.