Kingsoft Cloud (NASDAQ:KC) Upgraded by Nomura to Buy Rating

Kingsoft Cloud (NASDAQ:KC) was upgraded by stock analysts at Nomura from a “neutral” rating to a “buy” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $6.70 price objective on the stock, up from their previous price objective of $2.30. Nomura’s price objective suggests a potential upside of 15.92% from the company’s current price.

Separately, Bank of America reduced their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.62.

Kingsoft Cloud Trading Down 11.5 %

Shares of Kingsoft Cloud stock opened at $5.78 on Friday. The firm’s 50-day moving average price is $3.31 and its two-hundred day moving average price is $2.90. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -4.82 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $6.54.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 18.26% and a negative net margin of 28.41%. The firm had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. On average, analysts forecast that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in KC. Jane Street Group LLC boosted its holdings in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the last quarter. Swedbank AB acquired a new stake in shares of Kingsoft Cloud during the first quarter worth $649,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kingsoft Cloud in the third quarter valued at $326,000. GSA Capital Partners LLP boosted its position in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after acquiring an additional 81,751 shares during the last quarter. Finally, XY Capital Ltd bought a new position in shares of Kingsoft Cloud in the 3rd quarter worth about $214,000. 13.40% of the stock is owned by 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.