Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) reached a new 52-week low on Friday . The stock traded as low as $12.41 and last traded at $12.41, with a volume of 19675 shares trading hands. The stock had previously closed at $12.74.
Several research firms recently weighed in on KC. Citigroup decreased their price objective on Kingsoft Cloud from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, October 26th. Nomura Instinet restated a “neutral” rating and issued a $33.00 target price (down from $45.00) on shares of Kingsoft Cloud in a research note on Wednesday, September 29th. The Goldman Sachs Group lowered Kingsoft Cloud from a “buy” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $18.00 in a research report on Sunday, January 2nd. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $33.00 in a research note on Wednesday, September 29th. Finally, Zacks Investment Research upgraded shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Wednesday, December 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.83.
The company’s fifty day moving average is $17.08 and its two-hundred day moving average is $24.96.
Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada acquired a new stake in Kingsoft Cloud during the third quarter worth about $27,000. Macquarie Group Ltd. grew its holdings in Kingsoft Cloud by 80.9% during the second quarter. Macquarie Group Ltd. now owns 3,971 shares of the company’s stock worth $134,000 after acquiring an additional 1,776 shares during the period. Tudor Investment Corp Et Al acquired a new stake in Kingsoft Cloud during the third quarter worth about $214,000. Panagora Asset Management Inc. grew its holdings in Kingsoft Cloud by 455.9% during the second quarter. Panagora Asset Management Inc. now owns 6,532 shares of the company’s stock worth $222,000 after acquiring an additional 5,357 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Kingsoft Cloud during the second quarter worth about $241,000. 28.24% of the stock is owned by institutional investors and hedge funds.
About Kingsoft Cloud (NASDAQ:KC)
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.
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