Kingsoft Cloud (NASDAQ:KC) Trading Up 3.9% - Still a Buy?

Key Points

• Kingsoft Cloud's stock rose by 3.9% to $17.12, though trading volume was significantly lower than average, dropping by 84% to approximately 463,694 shares.
• Analysts have recently upgraded Kingsoft Cloud's rating, with Zacks Research moving it from a "strong sell" to a "hold," while Bank of America increased its rating from "neutral" to "buy."
• The company has a market capitalization of $4.88 billion and currently holds a consensus target price of $17.27, indicating potential upside based on recent analyst estimates.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) was up 3.9% on Thursday . The company traded as high as $16.91 and last traded at $17.12. Approximately 463,694 shares were traded during trading, a decline of 84% from the average daily volume of 2,851,186 shares. The stock had previously closed at $16.47.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KC shares. Zacks Research raised Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Bank of America raised Kingsoft Cloud from a "neutral" rating to a "buy" rating in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Kingsoft Cloud in a research note on Tuesday, September 16th. They issued a "buy" rating and a $21.00 price target on the stock. Finally, Wall Street Zen raised Kingsoft Cloud from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $17.27.

Kingsoft Cloud Stock Up 6.0%

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.88 billion, a P/E ratio of -15.29 and a beta of 2.18. The company has a 50-day moving average of $14.82 and a two-hundred day moving average of $13.91.

Institutional Trading of Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. First Horizon Advisors Inc. purchased a new stake in shares of Kingsoft Cloud during the second quarter worth about $27,000. Compagnie Lombard Odier SCmA purchased a new position in Kingsoft Cloud during the 1st quarter worth $65,000. Bayforest Capital Ltd purchased a new position in Kingsoft Cloud during the 1st quarter worth $78,000. Farther Finance Advisors LLC purchased a new position in shares of Kingsoft Cloud in the 2nd quarter valued at $100,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Kingsoft Cloud in the 1st quarter valued at $104,000. Hedge funds and other 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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