Kingsoft Cloud (NASDAQ:KC) Reaches New 12-Month Low – Time to Sell?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)’s stock price hit a new 52-week low during trading on Thursday. The stock traded as low as $8.05 and last traded at $8.0550, with a volume of 905,903 shares changing hands. The stock had previously closed at $8.63.

Wall Street Analysts Forecast Growth

KC has been the subject of several research analyst reports. Bank of America reiterated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. The Goldman Sachs Group set a $18.00 price target on shares of Kingsoft Cloud in a research note on Tuesday, September 1st. Zacks Research raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Finally, Morgan Stanley started coverage on shares of Kingsoft Cloud in a research note on Tuesday, July 7th. They set an “overweight” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $2.35 billion, a P/E ratio of -27.75 and a beta of 1.96. The business’s fifty day moving average price is $9.48 and its 200 day moving average price is $12.02.

Hedge Funds Weigh In On Kingsoft Cloud

Several large investors have recently modified their holdings of KC. Cetera Investment Advisers raised its position in shares of Kingsoft Cloud by 11.7% in the 1st quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock worth $442,000 after acquiring an additional 3,449 shares in the last quarter. Vise Technologies Inc. lifted its holdings in shares of Kingsoft Cloud by 25.3% in the 3rd quarter. Vise Technologies Inc. now owns 21,627 shares of the company’s stock worth $197,000 after purchasing an additional 4,371 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Kingsoft Cloud during the first quarter valued at about $442,000. Inspire Investing LLC boosted its stake in Kingsoft Cloud by 18.2% during the 3rd quarter. Inspire Investing LLC now owns 265,203 shares of the company’s stock valued at $2,419,000 after purchasing an additional 40,803 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Kingsoft Cloud during the second quarter worth $588,000. Institutional investors own 13.40% of the company’s stock.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited is a China-based cloud service provider that offers infrastructure and technology services to businesses, government organizations and other institutions. The company provides public cloud, enterprise cloud and industry-specific cloud solutions designed to support computing, data storage, networking and digital transformation.

Its product and service portfolio includes cloud computing infrastructure, content delivery and networking services, databases, storage, information security and related technical support.