Kingsoft Cloud (NASDAQ:KC) Upgraded by Zacks Research to Hold Rating

Key Points

• Kingsoft Cloud (NASDAQ:KC) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating, while other analysts have varied opinions with a consensus rating of "Buy."
• The company has a current market capitalization of approximately $4.14 billion and achieved a 12-month high of $22.26 before dropping to an opening price of $14.82 recently.
• Institutional investors hold 13.40% of the stock, with several hedge funds recently increasing their stakes or acquiring new positions in Kingsoft Cloud.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday, August 21st,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. 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 report on Monday, May 5th. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.40.

Kingsoft Cloud Price Performance

Shares of KC stock traded up $0.90 on Thursday, reaching $15.02. The company's stock had a trading volume of 1,525,617 shares, compared to its average volume of 2,901,747. The stock's fifty day simple moving average is $13.59 and its 200-day simple moving average is $14.28. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $22.26. 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 $4.20 billion, a price-to-earnings ratio of -13.16 and a beta of 2.10.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. purchased a new stake in shares of Kingsoft Cloud during the second quarter valued at $27,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Kingsoft Cloud during the first quarter valued at $65,000. Bayforest Capital Ltd bought a new stake in shares of Kingsoft Cloud in the first quarter valued at about $78,000. Farther Finance Advisors LLC bought a new stake in shares of Kingsoft Cloud in the second quarter valued at about $100,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Kingsoft Cloud in the first quarter valued at about $104,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Company Profile

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.