Kingsoft Cloud (NASDAQ:KC) Stock Price Down 8.3% – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price was down 8.3% during trading on Friday . The company traded as low as $15.18 and last traded at $15.10. Approximately 2,150,031 shares changed hands during trading, a decline of 9% from the average daily volume of 2,354,569 shares. The stock had previously closed at $16.48.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KC shares. Nomura Securities cut Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report 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 raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Kingsoft Cloud has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

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 stock’s 50 day simple moving average is $15.39 and its two-hundred day simple moving average is $8.84. The firm has a market capitalization of $3.85 billion, a PE ratio of -12.65 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last released 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. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $0.08 EPS. The business’s revenue was up 29.6% on a year-over-year basis. On average, sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Several institutional investors have recently made changes to their positions in KC. Public Employees Retirement System of Ohio acquired a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $609,000. GTS Securities LLC acquired a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $325,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $125,000. Voloridge Investment Management LLC acquired a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $16,345,000. Finally, Vident Advisory LLC increased its holdings in Kingsoft Cloud by 158.9% in the 4th quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock valued at $942,000 after purchasing an additional 55,113 shares during the last quarter. 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.