Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Down 15.6% in September

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 7,980,000 shares, a decrease of 15.6% from the August 31st total of 9,450,000 shares. Based on an average trading volume of 905,200 shares, the short-interest ratio is currently 8.8 days.

Kingsoft Cloud Price Performance

Shares of NASDAQ:KC opened at $2.95 on Monday. The firm has a 50 day simple moving average of $2.41 and a 200 day simple moving average of $2.75. The company has a market cap of $748.37 million, a price-to-earnings ratio of -2.61 and a beta of 1.98. Kingsoft Cloud has a one year low of $2.02 and a one year high of $5.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. Research analysts predict that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kingsoft Cloud by 95.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after purchasing an additional 312,132 shares during the period. Swedbank AB acquired a new stake in Kingsoft Cloud in the first quarter worth $649,000. Vanguard Personalized Indexing Management LLC grew its holdings in Kingsoft Cloud by 50.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after purchasing an additional 5,126 shares during the period. Headlands Technologies LLC grew its holdings in Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the period. Finally, Blue Trust Inc. acquired a new stake in Kingsoft Cloud in the second quarter worth $36,000. Institutional investors own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America dropped their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

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.