Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Wednesday . 3,661,879 shares changed hands during trading, a decline of 3% from the previous session’s volume of 3,773,027 shares.The stock last traded at $10.99 and had previously closed at $13.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Nomura Securities downgraded Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Stock Up 0.5 %

The firm has a market capitalization of $2.80 billion, a P/E ratio of -9.19 and a beta of 2.23. The business has a 50 day moving average price of $16.05 and a 200 day moving average price of $10.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. Kingsoft Cloud’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. On average, analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

A number of hedge funds have recently modified their holdings of KC. Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. State Street Corp boosted its holdings in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock worth $285,000 after buying an additional 3,300 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Kingsoft Cloud during the first quarter worth $65,000. Finally, Invesco Ltd. grew its holdings in shares of Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after purchasing an additional 4,878 shares during the last quarter. Institutional investors own 13.40% of the company’s stock.

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.