Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Friday . 1,102,890 shares traded hands 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.

Wall Street Analyst Weigh In

Separately, Bank of America lowered their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Trading Up 8.6 %

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 company has a market capitalization of $1.28 billion, a P/E ratio of -4.90 and a beta of 2.00. The firm has a fifty day moving average price of $3.06 and a 200-day moving average price of $2.84.

Kingsoft Cloud (NASDAQ:KC) last announced 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 business had revenue of $260.32 million during 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, equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently bought and sold shares of KC. State Street Corp lifted its stake in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after buying an additional 3,104 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 worth $1,156,000 after acquiring an additional 17,700 shares in the last quarter. Jane Street Group LLC grew its position in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares in the last quarter. Swedbank AB raised its stake in shares of Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after purchasing an additional 11,800 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after purchasing an additional 81,751 shares during the period. 13.40% of the stock is 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.