Kingsoft Cloud (NASDAQ:KC) Stock Price Down 8.3% – What’s Next?

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

Analyst Upgrades and Downgrades

Several equities analysts have commented 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. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Kingsoft Cloud Trading Down 7.8 %

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’s 50 day moving average price is $15.39 and its 200-day moving average price is $8.84. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -12.65 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) 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 in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 29.6% compared to the same quarter last year. Equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $119,000. Vise Technologies Inc. acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $125,000. Cetera Investment Advisers acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $138,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $226,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.