Kingsoft Cloud (NASDAQ:KC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Kingsoft Cloud from a "hold" to a "sell" rating, reflecting a significant shift in perception about the company's stock.
• Conversely, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating with a price target of $18.30, showcasing mixed sentiment among analysts regarding the company's potential.
• Kingsoft Cloud's current consensus rating is a "Moderate Buy," with a price target of $11.33, amid recent trading activity that saw shares opened at $13.58.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other brokerages also recently weighed in on KC. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud presently has an average rating of "Buy" and an average target price of $11.33.

Kingsoft Cloud Trading Down 5.5%

KC traded down $0.7910 during trading on Friday, hitting $13.5190. The company's stock had a trading volume of 1,517,918 shares, compared to its average volume of 2,936,328. The firm's 50 day moving average price is $13.39 and its 200-day moving average price is $14.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $3.78 billion, a PE ratio of -12.29 and a beta of 2.10. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $22.26.

Institutional Trading of Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in KC. Man Group plc purchased a new position in Kingsoft Cloud in the 4th quarter valued at about $711,000. Invesco Ltd. boosted its position in 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 buying an additional 4,878 shares during the last quarter. Two Sigma Advisers LP boosted its position in Kingsoft Cloud by 13.8% in the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after buying an additional 3,300 shares during the last quarter. Millennium Management LLC boosted its position in Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after buying an additional 873,686 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Kingsoft Cloud in the 4th quarter valued at about $119,000. 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.