Kingsoft Cloud (NASDAQ:KC) Stock Price Up 8.1%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) traded up 8.1% on Thursday . The stock traded as high as $2.71 and last traded at $2.66. 2,277,750 shares changed hands during trading, an increase of 110% from the average session volume of 1,086,146 shares. The stock had previously closed at $2.46.

Wall Street Analyst Weigh In

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

Kingsoft Cloud Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $712.87 million, a PE ratio of -2.37 and a beta of 1.98. The firm has a 50 day moving average price of $2.41 and a 200 day moving average price of $2.76.

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

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the business. Profund Advisors LLC purchased a new stake in Kingsoft Cloud in the 2nd quarter worth $27,000. Blue Trust Inc. purchased a new position in shares of Kingsoft Cloud during the second quarter valued at about $36,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Kingsoft Cloud by 50.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after purchasing an additional 5,126 shares in the last quarter. Headlands Technologies LLC grew its position in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Kingsoft Cloud during the fourth quarter valued at about $136,000. Hedge funds and other 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.