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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a large 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 trading volume of 3,080,000 shares, the short-interest ratio is currently 2.4 days.

Kingsoft Cloud Price Performance

Shares of NASDAQ KC traded up $0.52 during midday trading on Monday, hitting $7.21. The company had a trading volume of 2,889,460 shares, compared to its average volume of 1,662,116. 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 has a twelve month low of $2.02 and a twelve month high of $7.78. The business has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $3.04. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.26 and a beta of 2.00.

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KC. Swedbank AB acquired a new position in Kingsoft Cloud during the first quarter worth about $649,000. Blue Trust Inc. acquired a new position in Kingsoft Cloud during the second quarter worth about $36,000. Headlands Technologies LLC raised its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the last quarter. Renaissance Technologies LLC raised its position in Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 shares during the last quarter. Finally, Profund Advisors LLC acquired a new position in Kingsoft Cloud during the second quarter worth about $27,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on KC shares. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Bank of America reduced 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 note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $4.62.

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.