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

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.2667.

Several equities analysts have issued reports on KC shares. Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th. Bank of America upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kingsoft Cloud in a research report on Tuesday, September 16th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kingsoft Cloud in a research report on Saturday, September 27th.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kingsoft Cloud by 50.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company’s stock worth $17,482,000 after purchasing an additional 410,492 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kingsoft Cloud by 2,541.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,129,120 shares of the company’s stock worth $14,137,000 after buying an additional 1,086,372 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Kingsoft Cloud in the 1st quarter worth about $10,573,000. LMR Partners LLP boosted its position in shares of Kingsoft Cloud by 1,114.5% in the 2nd quarter. LMR Partners LLP now owns 518,200 shares of the company’s stock worth $6,488,000 after buying an additional 475,533 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Kingsoft Cloud in the 2nd quarter worth about $5,955,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Performance

Shares of KC opened at $15.26 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $4.27 billion, a P/E ratio of -13.39 and a beta of 2.14. The company’s fifty day moving average is $14.82 and its two-hundred day moving average is $13.82. Kingsoft Cloud has a 1 year low of $2.57 and a 1 year high of $22.26.

Kingsoft Cloud Company Profile

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.