Investors Buy Large Volume of Call Options on Kingsoft Cloud (NASDAQ:KC)

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) saw unusually large options trading on Tuesday. Stock investors acquired 5,591 call options on the stock. This represents an increase of approximately 111% compared to the average volume of 2,649 call options.

Kingsoft Cloud Trading Up 18.7%

Shares of KC stock opened at $15.09 on Wednesday. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $22.26. The firm’s 50 day moving average price is $12.70 and its two-hundred day moving average price is $13.68. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -13.72 and a beta of 2.10. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 target price on the stock in a report on Monday, May 5th. Finally, Wall Street Zen downgraded Kingsoft Cloud from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Man Group plc acquired a new stake in shares of Kingsoft Cloud during the 4th quarter valued at approximately $711,000. Quantbot Technologies LP bought a new stake in Kingsoft Cloud during the fourth quarter valued at $226,000. Invesco Ltd. lifted its position in shares of Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after buying an additional 4,878 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Kingsoft Cloud by 13.8% in the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock worth $285,000 after buying an additional 3,300 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock valued at $9,389,000 after buying an additional 873,686 shares during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.