Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Monday . 1,995,685 shares were traded during trading, an increase of 13% from the previous session’s volume of 1,767,139 shares.The stock last traded at $11.36 and had previously closed at $10.79.

Analyst Ratings Changes

A number of analysts have weighed in on KC shares. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Trading Up 4.4 %

The business’s 50 day moving average is $8.95 and its 200 day moving average is $4.97. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -9.47 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its stake in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter worth about $326,000. GSA Capital Partners LLP grew its stake in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after acquiring an additional 81,751 shares during the last quarter. XY Capital Ltd acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. Finally, Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. Hedge funds and other 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.