Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Time to Sell?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down prior to trading on Friday . The stock had previously closed at $17.59, but opened at $17.02. Kingsoft Cloud shares last traded at $17.27, with a volume of 576,573 shares traded.

Wall Street Analyst Weigh In

KC has been the subject of several research analyst reports. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities downgraded Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kingsoft Cloud has an average rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

The business’s fifty day simple moving average is $14.18 and its 200-day simple moving average is $7.95. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.45 billion, a P/E ratio of -14.62 and a beta of 2.23.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after purchasing an additional 2,200 shares during the period. State Street Corp grew its position in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Two Sigma Advisers LP grew its position in Kingsoft Cloud by 13.8% in the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock worth $285,000 after acquiring an additional 3,300 shares in the last quarter. Invesco Ltd. grew its position in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after acquiring an additional 4,878 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Kingsoft Cloud in the fourth quarter worth $119,000. Institutional investors own 13.40% of the company’s stock.

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.