Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Monday . 1,108,021 shares changed hands during mid-day trading, a decline of 1% from the previous session’s volume of 1,120,367 shares.The stock last traded at $3.11 and had previously closed at $2.95.

Analyst Ratings Changes

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

Kingsoft Cloud Price Performance

The business has a fifty day moving average of $2.41 and a 200-day moving average of $2.75. The firm has a market cap of $755.98 million, a PE ratio of -2.75 and a beta of 1.98. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03.

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

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kingsoft Cloud by 95.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after buying an additional 312,132 shares during the period. Renaissance Technologies LLC raised its position in shares of Kingsoft Cloud by 4.0% in 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 in the last quarter. Swedbank AB lifted its stake in shares of Kingsoft Cloud by 5.5% in the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after purchasing an additional 11,800 shares during the period. Sei Investments Co. grew its stake in Kingsoft Cloud by 33.6% in the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares during the period. Finally, Headlands Technologies LLC raised 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 in the last quarter. 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.