Kingsoft Cloud (NASDAQ:KC) Reaches New 52-Week High – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $9.77 and last traded at $9.58, with a volume of 4744126 shares traded. The stock had previously closed at $8.40.

Analyst Ratings Changes

Several research analysts recently commented on KC shares. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Kingsoft Cloud presently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Up 14.0 %

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $3.63. The stock has a market cap of $2.43 billion, a P/E ratio of -7.98 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in the business. Profund Advisors LLC bought a new position in Kingsoft Cloud in the 2nd quarter valued at about $27,000. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud in the second quarter valued at approximately $36,000. SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter worth approximately $47,000. Headlands Technologies LLC lifted its holdings in Kingsoft Cloud by 313.9% during 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 during the last quarter. Finally, Walleye Capital LLC bought a new stake in Kingsoft Cloud in the 3rd quarter valued at $119,000. Institutional investors own 13.40% of the company’s stock.

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.