Kingsoft (OTCMKTS:KSFTF) Stock Jumps 12.6% – Here’s What Happened

Kingsoft Co. Limited (OTCMKTS:KSFTF)’s stock price was up 12.6% during trading on Friday. The stock traded as high as $3.39 and last traded at $3.39. Approximately 100 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 750 shares. The stock had previously closed at $3.01.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut Kingsoft to a “sell” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Kingsoft currently has a consensus rating of “Sell”.

Kingsoft Trading Up 12.6%

The firm has a fifty day simple moving average of $3.25 and a 200-day simple moving average of $2.99.

About Kingsoft

Kingsoft Corporation Limited is a Chinese software and interactive entertainment company founded in 1988. The company develops productivity software, cloud-based services and video games through businesses that include Kingsoft Office and Seasun Games.

Kingsoft’s office software portfolio is centered on WPS Office, which provides word processing, spreadsheets, presentations, PDF tools, cloud storage and collaboration features. The company also offers WPS 365 and related enterprise services, as well as artificial intelligence features integrated into some of its productivity products.

Through its gaming business, Kingsoft develops and publishes online and mobile games, including titles associated with the JX and Sword of Legends franchises.