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

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.67.

KC has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Kingsoft Cloud in a report on Tuesday, July 7th. They set an “overweight” rating and a $15.00 price target on the stock. Zacks Research raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Bank of America reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsoft Cloud in a research report on Thursday, October 15th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Kingsoft Cloud in a research report on Wednesday, August 19th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Kingsoft Cloud during the second quarter valued at approximately $588,000. Bank of America Corp DE lifted its holdings in shares of Kingsoft Cloud by 93.4% in the first quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock worth $2,211,000 after buying an additional 79,910 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Kingsoft Cloud in the first quarter worth $9,456,000. Cetera Investment Advisers lifted its holdings in shares of 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 buying an additional 3,449 shares in the last quarter. Finally, XY Capital Ltd lifted its holdings in shares of Kingsoft Cloud by 84.2% in the first quarter. XY Capital Ltd now owns 274,946 shares of the company’s stock worth $3,673,000 after buying an additional 125,671 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Trading Up 3.0%

Shares of Kingsoft Cloud stock opened at $8.79 on Wednesday. The company has a market capitalization of $2.66 billion, a P/E ratio of -31.39 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $9.98 and a 200 day moving average of $11.71. Kingsoft Cloud has a fifty-two week low of $8.35 and a fifty-two week high of $18.52.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a China-based cloud service provider that offers infrastructure and technology services to businesses, government organizations and other institutions. The company provides public cloud, enterprise cloud and industry-specific cloud solutions designed to support computing, data storage, networking and digital transformation.

Its product and service portfolio includes cloud computing infrastructure, content delivery and networking services, databases, storage, information security and related technical support.