Kingsoft Cloud Holdings Limited (NASDAQ:KC) Sees Significant Increase in Short Interest

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,440,000 shares, an increase of 17.1% from the December 15th total of 8,060,000 shares. Based on an average daily trading volume, of 3,640,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Stock Up 0.6 %

NASDAQ KC traded up $0.06 during trading on Friday, hitting $9.97. The company’s stock had a trading volume of 1,585,983 shares, compared to its average volume of 2,942,596. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $12.84. The company has a market cap of $2.53 billion, a PE ratio of -8.31 and a beta of 2.29. 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 business’s 50 day simple moving average is $8.43 and its 200-day simple moving average is $4.70.

Institutional Trading of Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in shares of Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kingsoft Cloud in the third quarter valued at $326,000. State Street Corp grew its position in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the period. Blue Trust Inc. raised its stake in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $47,000. Hedge funds and other 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.