Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $17.52, but opened at $16.75. Kingsoft Cloud shares last traded at $16.52, with a volume of 208,870 shares changing hands.

Wall Street Analyst Weigh In

KC has been the subject of a number of recent research reports. Nomura Securities downgraded Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Performance

The business’s fifty day simple moving average is $14.57 and its 200-day simple moving average is $8.26. The company has a market capitalization of $4.27 billion, a P/E ratio of -14.07 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Walleye Capital LLC purchased a new stake in Kingsoft Cloud during the third quarter valued at approximately $119,000. Marshall Wace LLP purchased a new position in Kingsoft Cloud during the fourth quarter worth $119,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud during the fourth quarter valued at $125,000. Cetera Investment Advisers purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at $138,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Kingsoft Cloud by 12.7% during 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 during the last quarter. 13.40% of the stock is currently 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.