Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report) was down 5.1% during trading on Friday . The stock traded as low as $12.52 and last traded at $12.61. Approximately 854,208 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 2,151,799 shares. The stock had previously closed at $13.28.
Wall Street Analysts Forecast Growth
KC has been the subject of several recent analyst reports. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $5.93.
Read Our Latest Stock Report on Kingsoft Cloud
Kingsoft Cloud Trading Down 5.4 %
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in KC. State Street Corp increased its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after buying an additional 17,700 shares during the last quarter. Jane Street Group LLC increased its position in shares of Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares during the last quarter. WT Asset Management Ltd bought a new position in Kingsoft Cloud during the 4th quarter worth approximately $2,613,000. Finally, GSA Capital Partners LLP boosted its holdings in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares during the period. Institutional investors and hedge funds own 13.40% of the company’s stock.
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.
See Also
- Five stocks we like better than Kingsoft Cloud
- The Role Economic Reports Play in a Successful Investment Strategy
- Nebius Group: Market Overreaction or Real AI Disruption?
- What is a Special Dividend?
- The Best Way to Invest in Gold Is…
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Why Nike Stock Could Be 2025’s Top Comeback Play
Receive News & Ratings for Kingsoft Cloud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kingsoft Cloud and related companies with MarketBeat.com's FREE daily email newsletter.