Kingsoft Cloud Holdings Limited (NASDAQ:KC) Sees Significant Drop in Short Interest

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 6,780,000 shares, a decrease of 9.4% from the September 30th total of 7,480,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 3.7 days.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of KC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Kingsoft Cloud by 95.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after acquiring an additional 312,132 shares in the last quarter. Swedbank AB purchased a new stake in shares of Kingsoft Cloud during the first quarter valued at $649,000. Headlands Technologies LLC grew its stake in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the period. Blue Trust Inc. bought a new stake in Kingsoft Cloud in the 2nd quarter worth approximately $36,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at about $47,000. Institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Down 3.8 %

Shares of NASDAQ KC opened at $2.75 on Friday. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $5.80. The firm has a market capitalization of $697.64 million, a price-to-earnings ratio of -2.67 and a beta of 2.00. 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 business has a 50-day moving average of $2.70 and a 200-day moving average of $2.75.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (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 firm had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Sell-side analysts expect that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

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.