Nomura Securities Upgrades Kingsoft Cloud (NASDAQ:KC) to Strong-Buy

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was upgraded by Nomura Securities from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Separately, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a research report on Monday, May 5th.

Kingsoft Cloud Trading Down 4.1 %

Shares of Kingsoft Cloud stock traded down $0.58 during trading on Monday, hitting $13.65. The stock had a trading volume of 1,825,574 shares, compared to its average volume of 2,750,628. The stock has a market cap of $3.70 billion, a PE ratio of -11.38 and a beta of 2.24. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $22.26. The firm's fifty day simple moving average is $14.42 and its 200-day simple moving average is $11.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, sell-side analysts expect that Kingsoft Cloud will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. acquired a new stake in Kingsoft Cloud during the fourth quarter worth about $21,076,000. Voloridge Investment Management LLC acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at $16,345,000. Millennium Management LLC boosted its holdings in Kingsoft Cloud by 4,098.3% during the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after buying an additional 873,686 shares in the last quarter. Renaissance Technologies LLC grew its position in Kingsoft Cloud by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock valued at $9,105,000 after buying an additional 356,834 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Kingsoft Cloud by 628.2% in 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 in the last quarter. Institutional investors and hedge funds 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.