Kingsoft Cloud (NASDAQ:KC) Sets New 1-Year Low at $2.12

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.12 and last traded at $2.15, with a volume of 93907 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Stock Down 3.2 %

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $530.20 million, a PE ratio of -1.85 and a beta of 1.98. The company’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $2.82.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds have recently made changes to their positions in KC. Mirae Asset Global Investments Co. Ltd. increased its stake in Kingsoft Cloud by 95.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after acquiring an additional 312,132 shares during the last quarter. Swedbank AB bought a new stake in shares of Kingsoft Cloud in the 1st quarter valued at approximately $649,000. Jump Financial LLC bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at approximately $136,000. Sei Investments Co. raised its holdings in Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares during the period. Finally, Headlands Technologies LLC lifted its position 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 buying an additional 24,932 shares during the last quarter. Institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.