Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down before the market opened on Thursday . The stock had previously closed at $17.52, but opened at $16.75. Kingsoft Cloud shares last traded at $16.52, with a volume of 208,870 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on KC shares. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Up 3.4 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $14.81 and its two-hundred day moving average price is $8.42. The stock has a market capitalization of $4.39 billion, a P/E ratio of -14.43 and a beta of 2.23.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Kingsoft Cloud by 12.7% during the 4th 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 period. Jane Street Group LLC increased its position in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares during the period. Yeomans Consulting Group Inc. purchased a new position in Kingsoft Cloud during the 4th quarter valued at $318,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud during the 3rd quarter valued at $326,000. Finally, State Street Corp increased its position in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

About Kingsoft Cloud

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.