Kingsoft Cloud (NASDAQ:KC) Trading Down 8.1% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares traded down 8.1% on Tuesday . The stock traded as low as $18.95 and last traded at $19.12. 1,850,303 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 3,578,383 shares. The stock had previously closed at $20.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The business has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $6.66. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of -16.81 and a beta of 2.31.

Institutional Inflows and Outflows

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