Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.6667.

A number of research firms have weighed in on KC. The Goldman Sachs Group set a $18.00 target price on Kingsoft Cloud in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Kingsoft Cloud in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Morgan Stanley assumed coverage on Kingsoft Cloud in a report on Tuesday, July 7th. They set an “overweight” rating and a $15.00 target price on the stock. Finally, Bank of America reiterated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th.

Insider Activity at Kingsoft Cloud

In other news, CEO Tao Zou sold 300,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $0.64, for a total transaction of $192,000.00. Following the completion of the sale, the chief executive officer directly owned 1,700,000 shares of the company’s stock, valued at $1,088,000. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds have recently modified their holdings of KC. The Manufacturers Life Insurance Company acquired a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $9,456,000. Matthews International Capital Management LLC purchased a new position in Kingsoft Cloud during the 1st quarter worth approximately $2,944,000. Baader Bank Aktiengesellschaft acquired a new stake in Kingsoft Cloud during the 1st quarter valued at $2,405,000. XY Capital Ltd lifted its holdings in shares of Kingsoft Cloud by 1,255.9% in the fourth quarter. XY Capital Ltd now owns 149,275 shares of the company’s stock valued at $1,544,000 after purchasing an additional 138,266 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Kingsoft Cloud by 93.4% in the first quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock valued at $2,211,000 after purchasing an additional 79,910 shares in the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Performance

KC stock opened at $9.92 on Friday. The company has a 50-day simple moving average of $10.63 and a 200 day simple moving average of $12.38. The company has a market capitalization of $3.00 billion, a P/E ratio of -35.43 and a beta of 1.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. Kingsoft Cloud has a fifty-two week low of $8.35 and a fifty-two week high of $18.52.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a cloud service provider headquartered in China. The company offers public cloud, enterprise cloud and specialized cloud solutions designed to help organizations build, operate and scale digital applications and infrastructure.

Its products and services include cloud computing, cloud storage, content delivery networks, databases, big data and artificial intelligence services, as well as cloud-based security and network solutions. Kingsoft Cloud serves customers across industries such as internet services, financial services, healthcare, manufacturing and public-sector organizations.

Founded in 2012, Kingsoft Cloud has developed a network of data centers and cloud infrastructure serving customers primarily in China, with services also available in selected international markets.