Kingsoft Cloud Holdings Limited (NASDAQ:KC) Sees Significant Increase in Short Interest

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 7,290,000 shares, an increase of 24.0% from the October 31st total of 5,880,000 shares. Based on an average daily volume of 3,080,000 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analyst Weigh In

KC has been the subject of several research reports. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.30 to $6.70 in a report on Friday, November 22nd. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Bank of America reduced their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Stock Performance

NASDAQ:KC traded up $0.73 during trading hours on Monday, hitting $7.42. 4,923,217 shares of the company traded hands, compared to its average volume of 1,671,139. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -6.14 and a beta of 2.00. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $7.78. The firm has a 50-day moving average of $3.86 and a 200 day moving average of $3.04. 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

Large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Blue Trust Inc. grew its holdings 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 worth $56,000 after purchasing an additional 4,458 shares during the last quarter. Profund Advisors LLC bought a new stake in Kingsoft Cloud during the 2nd quarter worth about $27,000. Swedbank AB grew its holdings in Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Kingsoft Cloud during the 3rd quarter worth about $47,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

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.