Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Receives $17.27 Consensus Target Price from Analysts

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $17.2667.

A number of brokerages have issued reports on KC. Deutsche Bank Aktiengesellschaft began coverage on shares of Kingsoft Cloud in a report on Tuesday, September 16th. They issued a “buy” rating and a $21.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsoft Cloud in a report on Wednesday, October 8th. Bank of America upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a report on Tuesday, September 9th. Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. JPMorgan Chase & Co. lifted its position in Kingsoft Cloud by 2,541.3% during the second quarter. JPMorgan Chase & Co. now owns 1,129,120 shares of the company’s stock valued at $14,137,000 after acquiring an additional 1,086,372 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Kingsoft Cloud in the first quarter worth $10,573,000. Penserra Capital Management LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter worth $5,955,000. LMR Partners LLP raised its holdings in shares of Kingsoft Cloud by 1,114.5% during the second quarter. LMR Partners LLP now owns 518,200 shares of the company’s stock worth $6,488,000 after purchasing an additional 475,533 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kingsoft Cloud by 50.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company’s stock worth $17,482,000 after purchasing an additional 410,492 shares during the last quarter. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Down 0.1%

KC opened at $12.60 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. Kingsoft Cloud has a fifty-two week low of $2.70 and a fifty-two week high of $22.26. The firm’s fifty day moving average is $14.55 and its 200 day moving average is $13.67. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -11.05 and a beta of 2.14.

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.