Kingsoft Cloud (NASDAQ:KC) Rating Increased to Hold at Wall Street Zen

Key Points

• Kingsoft Cloud has been upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating, indicating a more favorable outlook for the stock.
• Nomura Securities further increased Kingsoft Cloud's standing from a "hold" to a "strong-buy" rating, setting a price objective of $18.30.
• The company’s average target price is currently at $15.40, with institutional investors owning approximately 13.40% of Kingsoft Cloud's stock.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

Other research analysts have also issued research reports about the company. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research report on Monday, May 5th. Finally, Zacks Research upgraded Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Kingsoft Cloud presently has an average rating of "Buy" and an average target price of $15.40.

Kingsoft Cloud Price Performance

Shares of KC opened at $14.82 on Friday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -13.00 and a beta of 2.10. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $14.32. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $22.26.

Institutional Trading of Kingsoft Cloud

Several hedge funds have recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new stake in Kingsoft Cloud during the 2nd quarter valued at $175,000. LMR Partners LLP raised its stake in Kingsoft Cloud by 1,114.5% during the 2nd quarter. LMR Partners LLP now owns 518,200 shares of the company's stock valued at $6,488,000 after acquiring an additional 475,533 shares in the last quarter. HRT Financial LP raised its stake in Kingsoft Cloud by 338.7% during the 2nd quarter. HRT Financial LP now owns 192,671 shares of the company's stock valued at $2,412,000 after acquiring an additional 148,752 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Kingsoft Cloud during the 2nd quarter valued at $290,000. Finally, Bank of America Corp DE raised its stake in Kingsoft Cloud by 51.5% during the 2nd quarter. Bank of America Corp DE now owns 271,263 shares of the company's stock valued at $3,396,000 after acquiring an additional 92,185 shares in the last quarter. Institutional investors 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.

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