Investors Purchase Large Volume of Call Options on Kingsoft Cloud (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of unusually large options trading activity on Friday. Traders acquired 5,497 call options on the company. This is an increase of 515% compared to the typical daily volume of 894 call options.

Kingsoft Cloud Trading Up 16.9 %

NASDAQ:KC traded up $1.72 during trading hours on Friday, reaching $11.92. 5,611,387 shares of the company were exchanged, compared to its average volume of 1,810,346. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $12.84. The stock has a 50 day simple moving average of $6.05 and a 200 day simple moving average of $3.82. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -9.93 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.93.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud during the 2nd quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Blue Trust Inc. raised its holdings in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the period. Headlands Technologies LLC lifted its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Kingsoft Cloud in the 3rd quarter worth approximately $119,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.