Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw an uptick in trading volume on Tuesday . 591,343 shares traded hands during trading, a decline of 44% from the previous session’s volume of 1,056,697 shares.The stock last traded at $2.42 and had previously closed at $2.23.

Wall Street Analyst Weigh In

Separately, Bank of America cut their target price 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.10.

Kingsoft Cloud Trading Up 11.7 %

The company has a market cap of $631.68 million, a price-to-earnings ratio of -2.15 and a beta of 1.98. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day moving average price is $2.41 and its 200-day moving average price is $2.77.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The business had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. On average, research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in Kingsoft Cloud by 50.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after acquiring an additional 5,126 shares during the last quarter. Profund Advisors LLC bought a new stake in Kingsoft Cloud during the 2nd quarter worth about $27,000. Swedbank AB grew its holdings in Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares during the last quarter. Blue Trust Inc. bought a new stake in Kingsoft Cloud during the 2nd quarter worth about $36,000. Finally, Renaissance Technologies LLC grew its holdings in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 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.