Kingsoft Cloud (NASDAQ:KC) Shares Down 5% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) fell 5% during mid-day trading on Thursday . The stock traded as low as $14.50 and last traded at $14.76. 1,099,560 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 2,392,874 shares. The stock had previously closed at $15.53.

Analyst Ratings Changes

Several analysts have recently commented on KC shares. Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura cut Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd.

Kingsoft Cloud Stock Down 8.2 %

The firm’s 50 day moving average is $16.05 and its 200-day moving average is $9.39. The firm has a market cap of $3.54 billion, a PE ratio of -11.64 and a beta of 2.23. 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 (NASDAQ:KC) last issued its quarterly 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. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in Kingsoft Cloud in the fourth quarter valued at $609,000. GTS Securities LLC acquired a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $325,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth about $125,000. Voloridge Investment Management LLC acquired a new stake in Kingsoft Cloud during the 4th quarter worth approximately $16,345,000. Finally, Vident Advisory LLC raised its holdings in Kingsoft Cloud by 158.9% in the fourth quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock valued at $942,000 after buying an additional 55,113 shares during the period. 13.40% of the stock is currently owned by hedge funds and other 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.