Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One 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 price target among analysts that have issued a report on the stock in the last year is $16.67.

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

Insider Buying and Selling

In other Kingsoft Cloud news, CEO Tao Zou sold 300,000 shares of the firm’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $0.64, for a total transaction of $192,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Kingsoft Cloud during the 2nd quarter valued at approximately $588,000. Bank of America Corp DE lifted its holdings in Kingsoft Cloud by 93.4% in the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock worth $2,211,000 after purchasing an additional 79,910 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Kingsoft Cloud in the 1st quarter worth approximately $9,456,000. Cetera Investment Advisers boosted its stake in Kingsoft Cloud by 11.7% in the 1st quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock worth $442,000 after purchasing an additional 3,449 shares during the period. Finally, XY Capital Ltd boosted its stake in Kingsoft Cloud by 84.2% in the 1st quarter. XY Capital Ltd now owns 274,946 shares of the company’s stock worth $3,673,000 after purchasing an additional 125,671 shares during the period. Institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Price Performance

NASDAQ KC opened at $9.32 on Wednesday. Kingsoft Cloud has a 12 month low of $8.35 and a 12 month high of $18.52. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -33.28 and a beta of 1.96. The company’s 50 day moving average is $10.32 and its two-hundred day moving average is $11.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a cloud service provider headquartered in China. The company delivers cloud infrastructure, platform services and industry-specific solutions to businesses, government organizations and other institutions. Its offerings are designed to support applications such as data processing, enterprise software, online services and digital transformation initiatives.

Kingsoft Cloud’s services include computing, storage, networking, databases, content delivery, cybersecurity, big data and artificial intelligence capabilities.