Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued 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 $16.67.

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

Insider Activity at Kingsoft Cloud

In related news, CEO Tao Zou sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $0.64, for a total value of $192,000.00. Following the sale, the chief executive officer owned 1,700,000 shares in the company, valued at $1,088,000. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 14.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Kingsoft Cloud Price Performance

KC opened at $9.66 on Friday. The stock has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $12.30. 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 company has a market cap of $2.92 billion, a price-to-earnings ratio of -34.50 and a beta of 1.97. Kingsoft Cloud has a 12-month low of $8.35 and a 12-month high of $18.52.

Kingsoft Cloud Company Profile

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.