Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Down 13.3% in October

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,880,000 shares, a decline of 13.3% from the October 15th total of 6,780,000 shares. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB bought a new stake in shares of Kingsoft Cloud during the 1st quarter worth $649,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud during the third quarter valued at about $47,000. Blue Trust Inc. grew its position in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after purchasing an additional 4,458 shares during the last quarter. Headlands Technologies LLC increased 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 purchasing an additional 24,932 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Trading Up 8.6 %

NASDAQ:KC opened at $5.05 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.28 billion, a P/E ratio of -4.90 and a beta of 2.00. The stock’s 50 day moving average price is $3.06 and its 200 day moving average price is $2.84. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $5.64.

Kingsoft Cloud (NASDAQ:KC) last released 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). The business had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. On average, research analysts forecast that Kingsoft Cloud will post -0.69 EPS for the current fiscal year.

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.