Kingsoft Cloud (NASDAQ:KC) Stock Price Up 6.1% – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) rose 6.1% during mid-day trading on Monday . The stock traded as high as $18.29 and last traded at $18.36. Approximately 1,557,775 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 3,690,495 shares. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

KC has been the subject of several recent analyst reports. Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Kingsoft Cloud Stock Performance

The company has a market cap of $4.59 billion, a P/E ratio of -15.08 and a beta of 2.23. The company’s 50-day moving average is $15.11 and its two-hundred day moving average is $8.72. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Equities analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in Kingsoft Cloud during the fourth quarter worth about $609,000. GTS Securities LLC bought a new position in Kingsoft Cloud during the fourth quarter worth about $325,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud during the fourth quarter worth about $125,000. Voloridge Investment Management LLC purchased a new stake in shares of Kingsoft Cloud in the fourth quarter worth about $16,345,000. Finally, Vident Advisory LLC lifted its holdings in shares of Kingsoft Cloud by 158.9% in the fourth quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock worth $942,000 after buying an additional 55,113 shares in the last quarter. 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.