Kingsoft Cloud (NASDAQ:KC) Shares Down 11.7% – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares fell 11.7% during mid-day trading on Tuesday . The company traded as low as $5.81 and last traded at $6.14. 1,537,090 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 1,622,129 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

A number of brokerages have issued reports on KC. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Bank of America cut their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Finally, Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has an average rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Stock Up 17.4 %

The business has a fifty day moving average of $3.68 and a 200 day moving average of $2.99. The company has a market capitalization of $1.78 billion, a PE ratio of -5.84 and a beta of 2.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB purchased a new position in Kingsoft Cloud during the 1st quarter valued at about $649,000. Blue Trust Inc. boosted its stake in shares of Kingsoft Cloud by 30.9% in 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. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $47,000. Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of 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 buying an additional 81,751 shares during the period. 13.40% of the stock is currently owned by hedge funds and other 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.