Kingsoft Cloud (NASDAQ:KC) Shares Down 11.7% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares were down 11.7% during mid-day trading on Tuesday . The stock traded as low as $5.81 and last traded at $6.14. Approximately 1,537,090 shares changed hands during trading, a decline of 5% from the average daily volume of 1,622,129 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

KC has been the topic of several research analyst reports. Bank of America dropped their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.30 to $6.70 in a research report on Friday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kingsoft Cloud currently has an average rating of “Buy” and a consensus target price of $4.62.

Kingsoft Cloud Stock Down 12.1 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The business has a fifty day simple moving average of $3.51 and a 200 day simple moving average of $2.95. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -5.12 and a beta of 2.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter valued at $27,000. Blue Trust Inc. purchased a new stake in shares of Kingsoft Cloud during the 2nd quarter worth $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the third quarter valued at $47,000. Headlands Technologies LLC raised its position in shares of 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 acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud in the third quarter valued at approximately $119,000. 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.