Kingsoft Cloud's (KC) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Kingsoft Cloud (NASDAQ:KC) has had its "sell (D-)" rating reaffirmed by Weiss Ratings, highlighting ongoing concerns about the company's performance.
• Despite the negative rating from Weiss, other firms like Bank of America have upgraded Kingsoft Cloud to a "buy" rating, indicating mixed sentiments among analysts.
• The company's average rating is currently a "Moderate Buy" with a consensus target price of $17.27, while its stock is trading around $14.49.

Kingsoft Cloud (NASDAQ:KC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on KC. Wall Street Zen upgraded shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Bank of America upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Kingsoft Cloud in a report on Tuesday, September 16th. They issued a "buy" rating and a $21.00 price target for the company. Finally, Zacks Research upgraded shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.27.

Kingsoft Cloud Trading Down 1.6%

NASDAQ:KC opened at $14.49 on Wednesday. Kingsoft Cloud has a one year low of $2.57 and a one year high of $22.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $4.05 billion, a P/E ratio of -12.71 and a beta of 2.14. The firm has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $13.78.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. Compagnie Lombard Odier SCmA purchased a new stake in Kingsoft Cloud during the first quarter valued at approximately $65,000. Envestnet Asset Management Inc. acquired a new position in Kingsoft Cloud during the 1st quarter valued at approximately $1,094,000. Personal CFO Solutions LLC acquired a new position in Kingsoft Cloud during the 1st quarter valued at approximately $176,000. Diversify Wealth Management LLC acquired a new position in Kingsoft Cloud during the 1st quarter valued at approximately $741,000. Finally, Diversify Advisory Services LLC acquired a new position in Kingsoft Cloud during the 1st quarter valued at approximately $220,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.