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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $9.97, but opened at $9.55. Kingsoft Cloud shares last traded at $9.44, with a volume of 316,196 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on KC shares. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Trading Up 0.2 %

The stock’s 50-day simple moving average is $8.74 and its 200-day simple moving average is $4.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $2.42 billion, a PE ratio of -7.95 and a beta of 2.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KC. Jane Street Group LLC raised its stake in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the 3rd quarter worth about $326,000. GSA Capital Partners LLP boosted its stake in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. XY Capital Ltd purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at about $214,000. Finally, Walleye Capital LLC bought a new stake in Kingsoft Cloud during the 3rd quarter valued at about $119,000. Hedge funds and other 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.