Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – What’s Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped up prior to trading on Friday . The stock had previously closed at $2.68, but opened at $2.87. Kingsoft Cloud shares last traded at $2.89, with a volume of 579,464 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Bank of America dropped their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Trading Up 3.7 %

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 firm has a market capitalization of $705.25 million, a price-to-earnings ratio of -2.46 and a beta of 2.00. The business has a fifty day moving average price of $2.64 and a 200 day moving average price of $2.76.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results 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). 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. As a group, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kingsoft Cloud by 95.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after purchasing an additional 312,132 shares in the last quarter. Sei Investments Co. raised its stake in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares in the last quarter. Swedbank AB bought a new position in Kingsoft Cloud during the 1st quarter worth approximately $649,000. Blue Trust Inc. bought a new position in Kingsoft Cloud during the 2nd quarter worth approximately $36,000. Finally, Headlands Technologies LLC increased its stake in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the last quarter. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.