Kingsoft Cloud (NASDAQ:KC) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Kingsoft Cloud from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $16.67.
• Kingsoft Cloud shares opened at $8.76, near their 12-month low of $8.35 and below the 50-day and 200-day moving averages of $10.25 and $11.85, respectively.
• Institutional investors own 13.4% of the company, while insiders own 14.2%; CEO Tao Zou recently sold 300,000 shares, reducing his stake by 15%.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages also recently issued reports on KC. Bank of America reissued a "buy" rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Morgan Stanley started coverage on shares of Kingsoft Cloud in a report on Tuesday, July 7th. They issued an "overweight" rating and a $15.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kingsoft Cloud in a research report on Friday, July 17th. Finally, The Goldman Sachs Group set a $18.00 price objective on shares of Kingsoft Cloud in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has a consensus rating of "Moderate Buy" and an average price target of $16.67.

Kingsoft Cloud Price Performance

Shares of KC opened at $8.76 on Tuesday. Kingsoft Cloud has a 12 month low of $8.35 and a 12 month high of $18.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $10.25 and a 200 day moving average price of $11.85. The company has a market cap of $2.65 billion, a P/E ratio of -31.28 and a beta of 1.96.

Insider Activity

In other news, CEO Tao Zou sold 300,000 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $0.64, for a total value of $192,000.00. Following the completion of the transaction, the chief executive officer owned 1,700,000 shares of the company's stock, valued at approximately $1,088,000. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 14.20% of the company's stock.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its stake in Kingsoft Cloud by 11.7% during the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company's stock valued at $442,000 after purchasing an additional 3,449 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Kingsoft Cloud in the fourth quarter worth approximately $73,000. Blue Trust Inc. grew its position in Kingsoft Cloud by 39.2% in the first quarter. Blue Trust Inc. now owns 35,085 shares of the company's stock worth $469,000 after buying an additional 9,881 shares during the last quarter. ABC Arbitrage SA acquired a new position in Kingsoft Cloud in the first quarter worth approximately $442,000. Finally, Headlands Technologies LLC bought a new position in shares of Kingsoft Cloud in the second quarter valued at $588,000. Institutional investors and hedge funds own 13.40% of the company's stock.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a cloud service provider headquartered in China. The company delivers cloud infrastructure, platform services and industry-specific solutions to businesses, government organizations and other institutions. Its offerings are designed to support applications such as data processing, enterprise software, online services and digital transformation initiatives.

Kingsoft Cloud's services include computing, storage, networking, databases, content delivery, cybersecurity, big data and artificial intelligence capabilities.

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