Kingsoft Cloud Sees Unusually High Options Volume (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw some unusual options trading activity on Friday. Traders acquired 5,497 call options on the company. This is an increase of 515% compared to the typical volume of 894 call options.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares in the last quarter. State Street Corp raised its holdings in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Walleye Capital LLC acquired a new stake in Kingsoft Cloud in the third quarter worth approximately $119,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Kingsoft Cloud during the 3rd quarter valued at $326,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after buying an additional 81,751 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock traded up $1.72 during midday trading on Friday, reaching $11.92. 5,611,387 shares of the stock traded hands, compared to its average volume of 1,810,346. The firm has a fifty day moving average price of $6.05 and a two-hundred day moving average price of $3.82. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $12.84. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -9.93 and a beta of 2.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

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.