Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 7,290,000 shares, a growth of 24.0% from the October 31st total of 5,880,000 shares. Based on an average daily volume of 3,080,000 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KC shares. 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. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kingsoft Cloud has a consensus rating of “Buy” and an average price target of $4.62.

Kingsoft Cloud Stock Up 7.8 %

Shares of KC traded up $0.52 during midday trading on Monday, reaching $7.21. The stock had a trading volume of 2,889,460 shares, compared to its average volume of 1,662,116. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $7.78. The company’s fifty day simple moving average is $3.86 and its two-hundred day simple moving average is $3.04. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -6.26 and a beta of 2.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently modified their holdings of the company. Profund Advisors LLC purchased a new position in Kingsoft Cloud during the 2nd quarter worth $27,000. Blue Trust Inc. purchased a new position in Kingsoft Cloud during the 2nd quarter worth $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud during the 3rd quarter worth $47,000. Headlands Technologies LLC grew its position in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Kingsoft Cloud during the 3rd quarter worth $119,000. 13.40% of the stock is currently 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.