Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 9,450,000 shares, a growth of 6.4% from the August 15th total of 8,880,000 shares. Based on an average daily volume of 881,200 shares, the days-to-cover ratio is presently 10.7 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Stock Performance

Shares of KC stock traded down $0.03 during trading hours on Wednesday, hitting $2.19. The stock had a trading volume of 332,244 shares, compared to its average volume of 1,057,241. The stock’s 50 day moving average is $2.46 and its 200 day moving average is $2.78. The firm has a market capitalization of $555.57 million, a PE ratio of -1.96 and a beta of 1.98. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $5.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The business had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. As a group, research analysts forecast that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors have recently added to or reduced their stakes in KC. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud during the second quarter worth about $27,000. Blue Trust Inc. acquired a new stake in shares of Kingsoft Cloud in the 2nd quarter valued at approximately $36,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Kingsoft Cloud by 50.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after buying an additional 5,126 shares in the last quarter. Headlands Technologies LLC grew its holdings in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the period. Finally, Jump Financial LLC purchased a new position in Kingsoft Cloud in the fourth quarter worth $136,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

About Kingsoft Cloud

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.