Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 7,480,000 shares, a drop of 6.3% from the September 15th total of 7,980,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days.

Kingsoft Cloud Trading Down 2.5 %

KC opened at $2.68 on Friday. The company’s 50 day moving average is $2.64 and its 200-day moving average is $2.77. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $5.80. 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 company has a market cap of $679.88 million, a P/E ratio of -2.37 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Tuesday, August 20th. The company reported ($0.20) EPS 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 business had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. Equities research analysts predict that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently modified their holdings of the stock. Profund Advisors LLC bought a new stake in Kingsoft Cloud during the 2nd quarter valued at $27,000. Blue Trust Inc. purchased a new position in shares of Kingsoft Cloud in the 2nd quarter worth about $36,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud in the 3rd quarter worth about $47,000. Headlands Technologies LLC boosted its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings 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 buying an additional 35,175 shares during the last quarter. Institutional investors own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.