Kingsoft Cloud Target of Unusually Large Options Trading (NASDAQ:KC)

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) saw some unusual options trading activity on Tuesday. Investors purchased 5,591 call options on the stock. This is an increase of approximately 111% compared to the typical volume of 2,649 call options.

Hedge Funds Weigh In On Kingsoft Cloud

A number of large investors have recently made changes to their positions in KC. Quantbot Technologies LP acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $226,000. Headlands Technologies LLC acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $2,990,000. HCEP Management Ltd acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $535,000. Invesco Ltd. increased 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 valued at $659,000 after purchasing an additional 4,878 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Kingsoft Cloud by 69.8% in the 4th quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock valued at $9,105,000 after purchasing an additional 356,834 shares during the period. Institutional investors and hedge funds own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

KC has been the topic of several research reports. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target on the stock in a research report on Monday, May 5th. Wall Street Zen cut shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.33.

Kingsoft Cloud Trading Up 7.2%

KC stock traded up $1.07 during mid-day trading on Friday, reaching $15.91. 3,265,386 shares of the stock traded hands, compared to its average volume of 2,946,431. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $22.26. The company has a market cap of $4.45 billion, a P/E ratio of -14.46 and a beta of 2.10. The stock's fifty day moving average is $12.71 and its 200-day moving average is $13.71.

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.