Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Receives Average Rating of "Buy" from Analysts

Key Points

• Kingsoft Cloud Holdings Limited (NASDAQ:KC) has received an average consensus rating of "Buy" from analysts, with a target price of $15.40.
• Significant institutional investments have been made, with hedge funds like D. E. Shaw & Co. and JPMorgan Chase increasing their holdings considerably during recent quarters.
• The company's stock is currently priced at $14.12, having a market cap of $3.95 billion, with a year range between $2.08 and $22.26.

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) have received a consensus rating of "Buy" from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $15.40.

A number of equities research analysts have recently issued reports on KC shares. Zacks Research raised shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, Bank of America raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating in a research note on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. purchased a new position in Kingsoft Cloud during the 4th quarter worth $21,076,000. Voloridge Investment Management LLC purchased a new position in Kingsoft Cloud during the 4th quarter worth $16,345,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Kingsoft Cloud by 50.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company's stock worth $17,482,000 after purchasing an additional 410,492 shares during the last quarter. JPMorgan Chase & Co. grew its position in Kingsoft Cloud by 2,541.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,129,120 shares of the company's stock worth $14,137,000 after purchasing an additional 1,086,372 shares during the last quarter. Finally, Millennium Management LLC grew its position in Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after purchasing an additional 873,686 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Performance

KC opened at $14.12 on Tuesday. 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 firm has a market capitalization of $3.95 billion, a PE ratio of -12.39 and a beta of 2.18. The firm's 50-day moving average price is $13.89 and its 200 day moving average price is $13.93. Kingsoft Cloud has a twelve month low of $2.08 and a twelve month high of $22.26.

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.

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