Kingsoft Cloud (NASDAQ:KC) Trading Down 5.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price traded down 5.3% during trading on Tuesday . The stock traded as low as $2.52 and last traded at $2.52. 334,452 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,062,720 shares. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Stock Up 2.9 %

The firm has a 50 day simple moving average of $2.55 and a two-hundred day simple moving average of $2.84. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $621.53 million, a P/E ratio of -2.17 and a beta of 2.00.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently added to or reduced their stakes in KC. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kingsoft Cloud by 95.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after acquiring an additional 312,132 shares during the last quarter. Swedbank AB bought a new position in shares of Kingsoft Cloud in the 1st quarter valued at $649,000. Jump Financial LLC bought a new position in shares of Kingsoft Cloud in the 4th quarter valued at $136,000. Russell Investments Group Ltd. increased its holdings in Kingsoft Cloud by 35.6% in the fourth quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock valued at $229,000 after purchasing an additional 15,913 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Kingsoft Cloud by 50.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after purchasing an additional 5,126 shares during the period. 13.40% of the stock is currently owned by institutional investors.

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.