Kingsoft Cloud (NASDAQ:KC) Upgraded at Zacks Research

Zacks Research upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 5th. Wall Street Zen cut shares of Kingsoft Cloud from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price target for the company in a research report on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.40.

Kingsoft Cloud Stock Performance

NASDAQ:KC opened at $14.82 on Thursday. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $22.26. The firm’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $14.32. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $4.14 billion, a PE ratio of -13.00 and a beta of 2.10.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently modified their holdings of KC. First Horizon Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the second quarter valued at $27,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Kingsoft Cloud in the first quarter valued at $65,000. Bayforest Capital Ltd acquired a new position in shares of Kingsoft Cloud in the first quarter valued at $78,000. Farther Finance Advisors LLC acquired a new position in shares of Kingsoft Cloud in the second quarter valued at about $100,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the first quarter valued at about $104,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.