Kingsoft Cloud (NASDAQ:KC) Trading Down 8.1% – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was down 8.1% during trading on Tuesday . The company traded as low as $18.95 and last traded at $19.12. Approximately 1,850,303 shares were traded during trading, a decline of 48% from the average daily volume of 3,578,383 shares. The stock had previously closed at $20.81.

Analyst Ratings Changes

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

Kingsoft Cloud Stock Performance

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 stock has a market capitalization of $4.82 billion, a PE ratio of -15.83 and a beta of 2.31. The firm has a fifty day moving average price of $11.97 and a two-hundred day moving average price of $6.57.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. State Street Corp grew its position in shares of 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 buying an additional 3,104 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Kingsoft Cloud by 13.8% during the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock valued at $285,000 after buying an additional 3,300 shares during the period. Blue Trust Inc. raised its holdings in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after acquiring an additional 4,878 shares during the period. Hedge funds and other 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.