Kingsoft Cloud (NASDAQ:KC) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Kingsoft Cloud (NASDAQ:KC) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $21.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. Bank of America raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a report on Tuesday, September 9th. Wall Street Zen raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Finally, Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $17.27.

Kingsoft Cloud Stock Down 1.7%

Shares of NASDAQ:KC opened at $16.06 on Tuesday. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -14.09 and a beta of 2.18. Kingsoft Cloud has a 1-year low of $2.17 and a 1-year high of $22.26. The company’s fifty day moving average is $14.38 and its two-hundred day moving average is $13.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kingsoft Cloud by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company’s stock worth $4,781,000 after purchasing an additional 1,710 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the 2nd quarter worth approximately $27,000. Atria Investments Inc grew its stake in shares of Kingsoft Cloud by 19.0% in the 2nd quarter. Atria Investments Inc now owns 17,447 shares of the company’s stock worth $218,000 after purchasing an additional 2,785 shares during the last quarter. Two Sigma Advisers LP grew its stake 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 purchasing an additional 3,300 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Kingsoft Cloud in the 1st quarter worth approximately $65,000. 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.