Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Here’s What Happened

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up before the market opened on Monday . The stock had previously closed at $15.43, but opened at $16.30. Kingsoft Cloud shares last traded at $16.33, with a volume of 1,270,507 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th.

Kingsoft Cloud Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $3.98 billion, a PE ratio of -13.08 and a beta of 2.23. The company has a 50 day moving average price of $15.75 and a two-hundred day moving average price of $9.22.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in Kingsoft Cloud in the fourth quarter worth approximately $119,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud in the 4th quarter worth $125,000. Cetera Investment Advisers purchased a new position in Kingsoft Cloud during the fourth quarter valued at $138,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kingsoft Cloud by 12.7% during the fourth 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 period. Finally, Quantbot Technologies LP purchased a new stake in Kingsoft Cloud in the fourth quarter worth about $226,000. 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.