Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $3.83, but opened at $4.09. Kingsoft Cloud shares last traded at $3.88, with a volume of 957,507 shares traded.
Analysts Set New Price Targets
Separately, Bank of America reduced their price objective 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 analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.10.
View Our Latest Report on Kingsoft Cloud
Kingsoft Cloud Price Performance
Kingsoft Cloud (NASDAQ:KC – Get Free Report) last announced its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $260.32 million for the quarter, compared to analysts’ expectations of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current fiscal year.
Institutional Trading of Kingsoft Cloud
A number of institutional investors have recently modified their holdings of the business. Profund Advisors LLC purchased a new stake in shares of Kingsoft Cloud in the second quarter worth about $27,000. Blue Trust Inc. bought a new stake in Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud during the third quarter worth about $47,000. Headlands Technologies LLC raised its holdings 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 acquiring an additional 24,932 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares in the last quarter. 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.
Further Reading
- Five stocks we like better than Kingsoft Cloud
- Low PE Growth Stocks: Unlocking Investment Opportunities
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
- Canada Bond Market Holiday: How to Invest and Trade
- MarketBeat Week in Review – 9/30 – 10/4
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Top Streaming Companies: Who’s Winning the Battle?
Receive News & Ratings for Kingsoft Cloud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kingsoft Cloud and related companies with MarketBeat.com's FREE daily email newsletter.