Kingsoft Cloud (NASDAQ:KC) Shares Gap Down to $2.55

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.55, but opened at $2.46. Kingsoft Cloud shares last traded at $2.51, with a volume of 272,640 shares trading hands.

Wall Street Analyst Weigh In

Separately, Bank of America decreased their target price on 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Stock Down 3.5 %

The stock has a market cap of $624.08 million, a price-to-earnings ratio of -2.18 and a beta of 1.98. The firm’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last posted 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). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The firm had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. Sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new stake in Kingsoft Cloud during the 4th quarter worth approximately $136,000. Vanguard Personalized Indexing Management LLC raised its position in 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 buying an additional 5,126 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Kingsoft Cloud by 3.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after acquiring an additional 20,084 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Kingsoft Cloud by 95.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after acquiring an additional 312,132 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Kingsoft Cloud by 33.6% in the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after acquiring an additional 35,175 shares in the last quarter. Institutional investors and hedge funds 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.