Kingsoft Cloud (NASDAQ:KC) Sees Large Volume Increase

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw unusually-strong trading volume on Tuesday . Approximately 591,343 shares traded hands during trading, a decline of 44% from the previous session’s volume of 1,056,697 shares.The stock last traded at $2.42 and had previously closed at $2.23.

Wall Street Analysts Forecast Growth

Separately, Bank of America decreased their target price on shares of 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Price Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $631.68 million, a P/E ratio of -2.15 and a beta of 1.98. The company’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.77.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 return on equity of 24.99% and a negative net margin of 25.33%. As a group, sell-side analysts expect that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Kingsoft Cloud by 95.1% during 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 during the last quarter. Artisan Partners Limited Partnership raised its stake in Kingsoft Cloud by 3.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after purchasing an additional 20,084 shares during the last quarter. Renaissance Technologies LLC raised its stake in Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares during the last quarter. Swedbank AB raised its stake in 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 last quarter. Finally, Sei Investments Co. raised its stake in Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after purchasing an additional 35,175 shares during the last quarter. 13.40% of the stock is owned by 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.