Kingsoft Cloud (NASDAQ:KC) Now Covered by Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has initiated coverage on Kingsoft Cloud, assigning a "buy" rating with a price target of $21.00, indicating a potential upside of 35.95% from its previous close.
• Multiple analysts have recently upgraded their ratings on Kingsoft Cloud, resulting in a consensus rating of "Buy" and an average target price of $17.27.
• Kingsoft Cloud shares opened at $15.45 and have experienced a 1-year range between a low of $2.17 and a high of $22.26, indicating significant volatility in the stock price.

Deutsche Bank Aktiengesellschaft started coverage on shares of Kingsoft Cloud (NASDAQ:KC - Free Report) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $21.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Bank of America raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 9th. Wall Street Zen raised shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Finally, Zacks Research raised shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Kingsoft Cloud has a consensus rating of "Buy" and a consensus price target of $17.27.

Kingsoft Cloud Price Performance

Shares of Kingsoft Cloud stock traded up $0.01 during midday trading on Tuesday, reaching $16.51. The company had a trading volume of 1,132,154 shares, compared to its average volume of 2,145,332. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of -14.48 and a beta of 2.18. The stock has a fifty day simple moving average of $14.68 and a 200 day simple moving average of $13.93. Kingsoft Cloud has a 1-year low of $2.17 and a 1-year high of $22.26.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kingsoft Cloud by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company's stock worth $4,781,000 after buying an additional 1,710 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in Kingsoft Cloud during the 2nd quarter worth about $27,000. Atria Investments Inc lifted its position in Kingsoft Cloud by 19.0% during the 2nd quarter. Atria Investments Inc now owns 17,447 shares of the company's stock worth $218,000 after buying an additional 2,785 shares in the last quarter. Two Sigma Advisers LP lifted its position in Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock worth $285,000 after buying an additional 3,300 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in Kingsoft Cloud during the 1st quarter worth about $65,000. 13.40% of the stock is owned by institutional investors.

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.