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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down before the market opened on Thursday . The stock had previously closed at $18.01, but opened at $17.03. Kingsoft Cloud shares last traded at $16.47, with a volume of 1,915,957 shares traded.

Wall Street Analyst Weigh In

KC has been the subject of a number of research reports. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Down 5.6 %

The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -14.23 and a beta of 2.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $11.14 and its two-hundred day simple moving average is $6.07.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KC. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud during the third quarter worth $47,000. Blue Trust Inc. boosted its holdings in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares during the period. XY Capital Ltd acquired a new position in Kingsoft Cloud in the 3rd quarter valued at about $214,000. GSA Capital Partners LLP grew its position in Kingsoft Cloud by 90.2% in the 3rd 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kingsoft Cloud during the third quarter worth about $326,000. Hedge funds and other institutional investors 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.