Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Stock Has Average Price Target of $16.67 According to Analysts

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $16.67.

A number of equities research analysts recently commented on the company. The Goldman Sachs Group set a $18.00 target price on Kingsoft Cloud in a research report on Tuesday, September 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsoft Cloud in a research note on Thursday. Bank of America restated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Finally, Morgan Stanley began coverage on Kingsoft Cloud in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $15.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KC. Cetera Investment Advisers increased its position in Kingsoft Cloud by 11.7% in the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock worth $442,000 after purchasing an additional 3,449 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Kingsoft Cloud during the fourth quarter valued at $73,000. Blue Trust Inc. raised its stake in Kingsoft Cloud by 39.2% during the first quarter. Blue Trust Inc. now owns 35,085 shares of the company’s stock valued at $469,000 after purchasing an additional 9,881 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Kingsoft Cloud during the first quarter valued at $442,000. Finally, Headlands Technologies LLC bought a new position in Kingsoft Cloud during the second quarter valued at $588,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Price Performance

KC opened at $8.47 on Wednesday. The company has a market capitalization of $2.56 billion, a PE ratio of -30.25 and a beta of 1.96. The firm has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $11.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. Kingsoft Cloud has a 52 week low of $8.35 and a 52 week high of $18.52.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited is a cloud service provider headquartered in China. The company delivers cloud infrastructure, platform services and industry-specific solutions to businesses, government organizations and other institutions. Its offerings are designed to support applications such as data processing, enterprise software, online services and digital transformation initiatives.

Kingsoft Cloud’s services include computing, storage, networking, databases, content delivery, cybersecurity, big data and artificial intelligence capabilities.