Kingsoft Cloud (NASDAQ:KC) Upgraded to Hold at Zacks Research

Kingsoft Cloud (NASDAQ:KC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

KC has been the topic of several other research reports. Wall Street Zen cut shares of Kingsoft Cloud from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price target for the company in a report on Monday, May 5th. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.40.

Kingsoft Cloud Stock Performance

KC opened at $14.82 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $13.48 and a two-hundred day moving average of $14.33. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $22.26. The firm has a market capitalization of $4.14 billion, a PE ratio of -13.00 and a beta of 2.10.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds have recently modified their holdings of the stock. Man Group plc acquired a new position in Kingsoft Cloud in the fourth quarter valued at about $711,000. Invesco Ltd. raised its holdings 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 buying an additional 4,878 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of 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 buying an additional 3,300 shares during the period. Millennium Management LLC boosted its position in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock valued at $9,389,000 after purchasing an additional 873,686 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at approximately $119,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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.