Kingsoft Cloud (NASDAQ:KC) Upgraded to “Buy” at UBS Group

UBS Group upgraded shares of Kingsoft Cloud (NASDAQ:KC) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat Ratings reports. UBS Group currently has $12.50 price target on the stock, up from their previous price target of $4.20.

Other research analysts also recently issued reports about the company. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Bank of America lowered their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Price Performance

NASDAQ:KC opened at $9.25 on Friday. The stock’s 50-day moving average is $4.30 and its 200-day moving average is $3.17. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $9.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB raised its stake in Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after buying an additional 11,800 shares during the period. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud during the second quarter worth approximately $36,000. Headlands Technologies LLC lifted its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares in the last quarter. Renaissance Technologies LLC grew its position in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares during the period. Finally, Profund Advisors LLC bought a new stake in Kingsoft Cloud during the 2nd quarter valued at $27,000. 13.40% of the stock is owned by 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.