Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Drops By 8.4%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 7,110,000 shares, a drop of 8.4% from the May 31st total of 7,760,000 shares. Based on an average daily trading volume, of 920,400 shares, the days-to-cover ratio is currently 7.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kingsoft Cloud by 50.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after purchasing an additional 5,126 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Kingsoft Cloud in the 4th quarter worth $136,000. Russell Investments Group Ltd. increased its holdings in shares of Kingsoft Cloud by 35.6% in the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares in the last quarter. Sei Investments Co. increased 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 purchasing an additional 35,175 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Kingsoft Cloud in the 1st quarter worth $649,000. Institutional investors own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KC shares. Jefferies Financial Group increased their price objective on Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a report on Monday, March 25th. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research note on Monday, March 11th. Citigroup upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday, March 21st. Finally, CLSA upgraded Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 target price for the company in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.55.

Kingsoft Cloud Stock Performance

KC stock opened at $2.45 on Wednesday. Kingsoft Cloud has a twelve month low of $2.34 and a twelve month high of $7.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $2.96 and a 200 day moving average of $2.98.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. The company had revenue of $245.93 million for the quarter, compared to the consensus estimate of $244.03 million. Analysts predict that Kingsoft Cloud will post -0.45 EPS 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.