Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down before the market opened on Friday . The stock had previously closed at $15.21, but opened at $14.64. Kingsoft Cloud shares last traded at $13.81, with a volume of 704,537 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KC shares. Nomura cut Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Kingsoft Cloud Stock Performance

The stock has a fifty day moving average of $16.05 and a 200-day moving average of $9.44. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.54 billion, a PE ratio of -11.64 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KC. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kingsoft Cloud during the 3rd quarter worth approximately $326,000. Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud in the third quarter valued at approximately $119,000. State Street Corp grew its holdings in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares during the period. Jane Street Group LLC raised its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares in the last quarter. Finally, Yeomans Consulting Group Inc. acquired a new stake in Kingsoft Cloud in the fourth quarter valued at $318,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.