Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Here’s Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw unusually-strong trading volume on Tuesday . Approximately 2,087,837 shares were traded during trading, a decline of 12% from the previous session’s volume of 2,384,098 shares.The stock last traded at $15.96 and had previously closed at $15.76.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura cut Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Hold” and a consensus target price of $6.55.

Kingsoft Cloud Stock Down 0.1 %

The stock has a market capitalization of $4.00 billion, a P/E ratio of -13.11 and a beta of 2.23. 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 stock’s 50 day simple moving average is $15.63 and its 200 day simple moving average is $9.13.

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

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in Kingsoft Cloud during the fourth quarter valued at $609,000. GTS Securities LLC bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at about $325,000. Vise Technologies Inc. acquired a new stake in Kingsoft Cloud during the fourth quarter worth about $125,000. Voloridge Investment Management LLC bought a new position in Kingsoft Cloud in the fourth quarter worth about $16,345,000. Finally, Vident Advisory LLC raised its position in shares of Kingsoft Cloud by 158.9% during the 4th quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock worth $942,000 after purchasing an additional 55,113 shares during the period. 13.40% of the stock is currently owned by institutional investors.

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.