Kingsoft Cloud (NASDAQ:KC) Upgraded at Nomura Securities

Nomura Securities upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a hold rating to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

Several other research firms have also issued reports on KC. Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a report on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Down 3.6 %

NASDAQ:KC opened at $6.95 on Friday. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $7.24. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.79 and a beta of 2.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $3.51 and its two-hundred day moving average price is $2.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Profund Advisors LLC acquired a new position in Kingsoft Cloud in the second quarter valued at about $27,000. Blue Trust Inc. bought a new position in Kingsoft Cloud in the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $47,000. Headlands Technologies LLC lifted its holdings in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. 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.