Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Tuesday . The stock had previously closed at $2.77, but opened at $3.10. Kingsoft Cloud shares last traded at $3.15, with a volume of 937,010 shares traded.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Up 18.1 %

The firm has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $2.75. The company has a market capitalization of $829.57 million, a price-to-earnings ratio of -3.05 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

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). The firm had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. As a group, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the company. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud during the 2nd quarter worth about $36,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Headlands Technologies LLC lifted its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. 13.40% of the stock is 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.