Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $16.6667.

KC has been the topic of several research reports. Morgan Stanley began coverage on shares of Kingsoft Cloud in a research report on Tuesday, July 7th. They set an “overweight” rating and a $15.00 price objective on the stock. The Goldman Sachs Group set a $18.00 target price on shares of Kingsoft Cloud in a research note on Tuesday, September 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsoft Cloud in a report on Friday, July 17th. Jefferies Financial Group restated a “buy” rating on shares of Kingsoft Cloud in a research report on Wednesday, August 19th. Finally, Bank of America reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th.

Insider Activity at Kingsoft Cloud

In related news, CEO Tao Zou sold 300,000 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $0.64, for a total transaction of $192,000.00. Following the completion of the sale, the chief executive officer directly owned 1,700,000 shares of the company’s stock, valued at $1,088,000. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.20% of the stock is owned by company insiders.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Kingsoft Cloud during the first quarter worth about $9,456,000. XY Capital Ltd lifted its position in Kingsoft Cloud by 84.2% in the first quarter. XY Capital Ltd now owns 274,946 shares of the company’s stock valued at $3,673,000 after purchasing an additional 125,671 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in Kingsoft Cloud in the first quarter valued at about $2,405,000. Matthews International Capital Management LLC purchased a new stake in Kingsoft Cloud in the 1st quarter valued at approximately $2,944,000. Finally, Bank of America Corp DE boosted its holdings in Kingsoft Cloud by 93.4% in the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock valued at $2,211,000 after purchasing an additional 79,910 shares in the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Stock Performance

Shares of KC opened at $9.68 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.92 billion, a PE ratio of -34.57 and a beta of 1.97. The company’s 50 day simple moving average is $10.63 and its 200-day simple moving average is $12.34. Kingsoft Cloud has a 12-month low of $8.35 and a 12-month high of $18.52.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited is a cloud service provider headquartered in China. The company offers public cloud, enterprise cloud and specialized cloud solutions designed to help organizations build, operate and scale digital applications and infrastructure.

Its products and services include cloud computing, cloud storage, content delivery networks, databases, big data and artificial intelligence services, as well as cloud-based security and network solutions. Kingsoft Cloud serves customers across industries such as internet services, financial services, healthcare, manufacturing and public-sector organizations.

Founded in 2012, Kingsoft Cloud has developed a network of data centers and cloud infrastructure serving customers primarily in China, with services also available in selected international markets.