Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $12.96, but opened at $12.55. Kingsoft Cloud shares last traded at $12.46, with a volume of 892,909 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a research note on Monday, May 5th. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th.
Read Our Latest Analysis on Kingsoft Cloud
Kingsoft Cloud Trading Down 0.5%
The firm has a market cap of $3.50 billion, a P/E ratio of -11.38 and a beta of 2.12. The stock has a 50 day simple moving average of $12.90 and a 200-day simple moving average of $13.46. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37.
Hedge Funds Weigh In On Kingsoft Cloud
A number of institutional investors and hedge funds have recently modified their holdings of KC. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after buying an additional 696,094 shares during the last quarter. Quantbot Technologies LP bought a new position in Kingsoft Cloud in the 4th quarter valued at $226,000. Headlands Technologies LLC purchased a new stake in Kingsoft Cloud in the fourth quarter worth $2,990,000. HCEP Management Ltd bought a new position in Kingsoft Cloud in the fourth quarter worth approximately $535,000. Finally, Invesco Ltd. lifted its holdings in shares of Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after buying an additional 4,878 shares during the period. Hedge funds and other institutional investors own 13.40% of the company's stock.
About Kingsoft Cloud
(
Get Free Report)
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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