Kingsoft Cloud (NASDAQ:KC) Shares Down 8.3% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) traded down 8.3% on Friday . The stock traded as low as $15.18 and last traded at $15.10. 2,150,031 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 2,354,569 shares. The stock had previously closed at $16.48.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura Securities cut Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.55.

Kingsoft Cloud Trading Down 6.4 %

The business has a fifty day simple moving average of $15.49 and a 200 day simple moving average of $8.98. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -12.86 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC) last announced its earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. Kingsoft Cloud’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth $21,076,000. Voloridge Investment Management LLC acquired a new stake in shares of Kingsoft Cloud during the fourth quarter worth $16,345,000. Millennium Management LLC boosted its holdings in shares of Kingsoft Cloud by 4,098.3% during the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock worth $9,389,000 after purchasing an additional 873,686 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company’s stock valued at $9,105,000 after acquiring an additional 356,834 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kingsoft Cloud by 628.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock valued at $8,464,000 after acquiring an additional 696,094 shares during the last quarter. Institutional investors and hedge funds 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.