Kingsoft Cloud (NASDAQ:KC) Trading Down 13.3% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price fell 13.3% during trading on Monday . The stock traded as low as $10.92 and last traded at $11.56. 715,316 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,466,435 shares. The stock had previously closed at $13.34.

Wall Street Analyst Weigh In

KC has been the topic of several recent analyst reports. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Nomura Securities cut Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Price Performance

The company has a market cap of $3.19 billion, a price-to-earnings ratio of -10.48 and a beta of 2.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $16.49 and a two-hundred day simple moving average of $9.91.

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

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud during the 4th quarter valued at $119,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud during the fourth quarter worth about $125,000. Cetera Investment Advisers purchased a new position in shares of Kingsoft Cloud in the 4th quarter worth about $138,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth about $226,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.