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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down prior to trading on Monday . The stock had previously closed at $12.57, but opened at $11.76. Kingsoft Cloud shares last traded at $11.33, with a volume of 1,727,588 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KC shares. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Down 9.4 %

The company’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $3.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.89 billion, a P/E ratio of -9.49 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $326,000. Blue Trust Inc. raised its holdings in Kingsoft Cloud by 30.9% during 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 bought a new stake in Kingsoft Cloud in the third quarter worth $47,000. Headlands Technologies LLC boosted its stake in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after buying an additional 24,932 shares during the period. Finally, GSA Capital Partners LLP increased its position in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after acquiring an additional 81,751 shares during the last quarter. 13.40% of the stock is owned by 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.