Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Up 6.4% in August

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 9,450,000 shares, an increase of 6.4% from the August 15th total of 8,880,000 shares. Based on an average daily trading volume, of 881,200 shares, the short-interest ratio is currently 10.7 days.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Stock Up 1.8 %

Shares of KC stock traded up $0.04 during trading hours on Tuesday, reaching $2.22. The company had a trading volume of 1,128,131 shares, compared to its average volume of 1,061,292. The company has a market capitalization of $563.18 million, a P/E ratio of -2.03 and a beta of 1.98. 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 has a twelve month low of $2.02 and a twelve month high of $5.80. The stock’s fifty day simple moving average is $2.47 and its 200 day simple moving average is $2.78.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The firm had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. As a group, sell-side analysts expect that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC acquired a new position in Kingsoft Cloud in the second quarter worth $27,000. Renaissance Technologies LLC lifted its holdings 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 worth $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Headlands Technologies LLC boosted its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Blue Trust Inc. bought a new position in shares of Kingsoft Cloud during the second quarter worth about $36,000. Finally, Swedbank AB grew its position in Kingsoft Cloud by 5.5% in the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after purchasing an additional 11,800 shares during the last quarter. Institutional investors 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.