Kingsoft Cloud (NASDAQ:KC) Trading Down 11.6% – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price fell 11.6% during mid-day trading on Thursday . The company traded as low as $17.06 and last traded at $16.77. 1,032,259 shares changed hands during trading, a decline of 72% from the average session volume of 3,723,178 shares. The stock had previously closed at $18.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the stock 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Down 13.0 %

The company’s fifty day moving average is $13.22 and its 200-day moving average is $7.25. The firm has a market capitalization of $4.18 billion, a P/E ratio of -13.76 and a beta of 2.30. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $47,000. Blue Trust Inc. grew its stake in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares in the last quarter. XY Capital Ltd acquired a new position in Kingsoft Cloud in the third quarter valued at about $214,000. GSA Capital Partners LLP lifted its position in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $326,000. 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.