Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped down before the market opened on Monday . The stock had previously closed at $5.05, but opened at $4.39. Kingsoft Cloud shares last traded at $4.28, with a volume of 722,689 shares changing hands.

Analyst Ratings Changes

Separately, Bank of America reduced 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.10.

Kingsoft Cloud Stock Performance

The stock has a fifty day moving average of $3.06 and a 200-day moving average of $2.84. 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 stock has a market capitalization of $1.13 billion, a PE ratio of -4.15 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last announced 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 return on equity of 24.99% and a negative net margin of 25.33%. The company had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. Equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Kingsoft Cloud by 4.0% in the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after buying an additional 17,700 shares in the last quarter. Jane Street Group LLC grew its holdings in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares during the period. Swedbank AB raised its position in Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after acquiring an additional 11,800 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after acquiring an additional 81,751 shares during the period. 13.40% of the stock is owned by institutional investors and hedge funds.

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.