Kingsoft Cloud (NASDAQ:KC) Trading 6.1% Higher – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price was up 6.1% during mid-day trading on Tuesday . The company traded as high as $11.43 and last traded at $11.67. Approximately 727,597 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,947,246 shares. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $3.00 billion, a P/E ratio of -9.84 and a beta of 2.29. The firm’s 50 day moving average is $9.09 and its 200 day moving average is $5.03.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud in the second quarter worth approximately $27,000. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter worth $47,000. Blue Trust Inc. boosted its position in shares of Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the third quarter worth $119,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.