Kingsoft Cloud (NASDAQ:KC) Trading Down 5% – What’s Next?

by · The Cerbat Gem

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC – Get Free Report) dropped 5% during trading on Thursday . The stock traded as low as $11.25 and last traded at $11.2250. Approximately 1,183,246 shares changed hands during trading, a decline of 54% from the average daily volume of 2,594,427 shares. The stock had previously closed at $11.82.

Wall Street Analyst Weigh In

KC has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsoft Cloud in a research note on Wednesday, October 8th. Zacks Research upgraded Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. Deutsche Bank Aktiengesellschaft began coverage on Kingsoft Cloud in a research report on Tuesday, September 16th. They set a “buy” rating and a $21.00 price target for the company. Finally, Bank of America upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.65.

Read Our Latest Analysis on KC

Kingsoft Cloud Stock Up 1.0%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average price of $12.45 and a two-hundred day moving average price of $13.40. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -21.75 and a beta of 2.01.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KC. Farther Finance Advisors LLC increased its stake in shares of Kingsoft Cloud by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 9,053 shares of the company’s stock valued at $135,000 after purchasing an additional 1,053 shares during the period. Personal CFO Solutions LLC increased its position in Kingsoft Cloud by 11.1% in the 3rd quarter. Personal CFO Solutions LLC now owns 12,174 shares of the company’s stock valued at $182,000 after acquiring an additional 1,212 shares during the period. Diversify Wealth Management LLC raised its stake in Kingsoft Cloud by 2.0% during the 3rd quarter. Diversify Wealth Management LLC now owns 67,617 shares of the company’s stock valued at $1,009,000 after acquiring an additional 1,343 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kingsoft Cloud by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company’s stock worth $4,781,000 after acquiring an additional 1,710 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of Kingsoft Cloud by 9.0% in the third quarter. Diversify Advisory Services LLC now owns 22,686 shares of the company’s stock worth $338,000 after purchasing an additional 1,874 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Company Profile

(Get Free Report)

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.

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