Kingsoft Cloud (NASDAQ:KC) Shares Down 4.5% – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were down 4.5% during trading on Tuesday . The company traded as low as $10.92 and last traded at $10.94. Approximately 544,086 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,838,449 shares. The stock had previously closed at $11.46.

Analysts Set New Price Targets

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

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $2.66 billion, a PE ratio of -8.74 and a beta of 2.49. The stock’s 50 day moving average is $6.57 and its two-hundred day moving average is $4.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KC. Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter valued at about $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Blue Trust Inc. lifted its stake in 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 in the last quarter. Headlands Technologies LLC boosted its holdings in shares of 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 during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud in the third quarter valued at approximately $119,000. Hedge funds and other 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.