Kingsoft Cloud (NASDAQ:KC) Upgraded to Buy at Nomura

Nomura upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a neutral rating to a buy rating in a report published on Monday, MarketBeat.com reports. Nomura currently has $18.30 price objective on the stock.

Separately, Nomura Securities cut Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Kingsoft Cloud Stock Down 7.6 %

Shares of NASDAQ:KC opened at $14.08 on Monday. The company has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $11.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $3.82 billion, a PE ratio of -11.73 and a beta of 2.24. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $22.26.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Analysts forecast that Kingsoft Cloud will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 shares in the last quarter. Two Sigma Advisers LP grew its stake in Kingsoft Cloud by 13.8% in the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock valued at $285,000 after purchasing an additional 3,300 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $65,000. Invesco Ltd. raised its stake in shares of Kingsoft Cloud by 8.4% during the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after purchasing an additional 4,878 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at approximately $119,000. 13.40% of the stock is currently owned by institutional investors.

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.