Kingsoft Cloud (NASDAQ:KC) Shares Down 5% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) fell 5% during trading on Thursday . The company traded as low as $14.50 and last traded at $14.76. 1,099,560 shares changed hands during trading, a decline of 54% from the average session volume of 2,392,874 shares. The stock had previously closed at $15.53.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Stock Performance

The stock has a market capitalization of $3.87 billion, a P/E ratio of -12.63 and a beta of 2.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $15.87 and a two-hundred day moving average price of $9.27.

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, topping the consensus estimate of ($0.11) by $0.06. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Equities analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KC. Marshall Wace LLP purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth about $119,000. Vise Technologies Inc. bought a new position in shares of Kingsoft Cloud in the 4th quarter worth $125,000. Cetera Investment Advisers purchased a new stake in shares of Kingsoft Cloud during the 4th quarter valued at $138,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $205,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Kingsoft Cloud in the fourth quarter worth $226,000. 13.40% of the stock is currently owned by hedge funds and other 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.