Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 7,480,000 shares, a decrease of 6.3% from the September 15th total of 7,980,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 4.8 days.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kingsoft Cloud by 95.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after acquiring an additional 312,132 shares in the last quarter. Swedbank AB acquired a new position in Kingsoft Cloud in the 1st quarter worth $649,000. Sei Investments Co. boosted its stake in Kingsoft Cloud by 33.6% in the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares during the period. Headlands Technologies LLC increased its holdings in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares during the period. Institutional investors own 13.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America decreased their price objective 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Stock Up 0.7 %

Shares of NASDAQ:KC opened at $2.75 on Thursday. The company has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $2.77. The company has a market capitalization of $697.64 million, a PE ratio of -2.43 and a beta of 2.00. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $5.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The business had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. Analysts forecast that Kingsoft Cloud will post -0.69 earnings per share for the current year.

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.