Kingsoft Cloud (NASDAQ:KC) Upgraded to “Buy” at Nomura

Nomura upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has $6.70 price target on the stock, up from their prior price target of $2.30.

Separately, Bank of America decreased their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kingsoft Cloud currently has an average rating of “Moderate Buy” and an average target price of $4.62.

Kingsoft Cloud Stock Performance

Shares of KC stock opened at $6.95 on Friday. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $7.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average price of $3.51 and a 200 day moving average price of $2.95. The stock has a market cap of $1.76 billion, a PE ratio of -5.79 and a beta of 2.00.

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Profund Advisors LLC purchased a new stake in shares of Kingsoft Cloud in the second quarter worth about $27,000. Blue Trust Inc. acquired a new position in Kingsoft Cloud during the 2nd quarter worth approximately $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Headlands Technologies LLC raised its stake in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Kingsoft Cloud during the 3rd quarter worth $119,000. Institutional investors and hedge funds 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.