Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw unusually-high trading volume on Friday . Approximately 1,102,890 shares were traded during trading, a decline of 26% from the previous session’s volume of 1,482,371 shares.The stock last traded at $5.07 and had previously closed at $4.65.

Analysts Set New Price Targets

Separately, Bank of America lowered their target price on shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Price Performance

The firm has a market capitalization of $1.28 billion, a PE ratio of -4.90 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day moving average is $3.06 and its two-hundred day moving average is $2.84.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm 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%. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

Large investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $649,000. SG Americas Securities LLC purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at $47,000. Blue Trust Inc. grew its holdings in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the last quarter. Headlands Technologies LLC increased its position 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 valued at $83,000 after acquiring an additional 24,932 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after acquiring an additional 17,700 shares during the last quarter. 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.