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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.97, but opened at $9.55. Kingsoft Cloud shares last traded at $9.44, with a volume of 316,196 shares trading hands.

Analyst Ratings Changes

KC has been the subject of several research analyst reports. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kingsoft Cloud currently has a consensus rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock 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 company has a market capitalization of $2.44 billion, a P/E ratio of -8.02 and a beta of 2.29. The business has a 50 day moving average of $8.53 and a 200-day moving average of $4.77.

Institutional Trading of Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of KC. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud in the second quarter worth approximately $27,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Blue Trust Inc. increased 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 buying an additional 4,458 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $119,000. Finally, XY Capital Ltd bought a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $214,000. 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.