Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Decreases By 13.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 5,880,000 shares, a decline of 13.3% from the October 15th total of 6,780,000 shares. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KC. Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% in the third 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. State Street Corp increased its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after acquiring an additional 3,104 shares during the last quarter. Walleye Capital LLC bought a new position in Kingsoft Cloud in the third quarter valued at $119,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Kingsoft Cloud in the third quarter valued at $326,000. Finally, GSA Capital Partners LLP increased its stake in Kingsoft Cloud by 90.2% in the third 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. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Price Performance

Shares of KC traded down $0.71 during midday trading on Monday, hitting $4.34. 3,103,028 shares of the company traded hands, compared to its average volume of 1,507,485. The stock has a 50-day moving average of $3.06 and a 200-day moving average of $2.84. The firm has a market cap of $1.10 billion, a P/E ratio of -4.15 and a beta of 2.00. Kingsoft Cloud has a one year low of $2.02 and a one year high of $5.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The firm had revenue of $260.32 million for the quarter, compared to analysts’ expectations of $251.17 million. As a group, sell-side analysts predict that Kingsoft Cloud will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note 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. According to data from MarketBeat, Kingsoft Cloud presently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

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.