Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Grows By 6.4%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,450,000 shares, a growth of 6.4% from the August 15th total of 8,880,000 shares. Based on an average daily volume of 881,200 shares, the days-to-cover ratio is currently 10.7 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KC. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kingsoft Cloud by 50.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after acquiring an additional 5,126 shares during the last quarter. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud in the 2nd quarter worth about $27,000. Swedbank AB boosted its holdings 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 buying an additional 11,800 shares during the period. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $36,000. Finally, Russell Investments Group Ltd. grew its position in shares of Kingsoft Cloud by 35.6% during the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock valued at $229,000 after buying an additional 15,913 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Trading Down 1.4 %

Shares of KC stock traded down $0.03 during mid-day trading on Wednesday, hitting $2.19. 332,244 shares of the company’s stock were exchanged, compared to its average volume of 1,057,241. The stock has a market cap of $555.57 million, a price-to-earnings ratio of -1.96 and a beta of 1.98. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $5.80. The stock has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $2.78.

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

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.