Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Drops By 8.4%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 7,110,000 shares, a drop of 8.4% from the May 31st total of 7,760,000 shares. Based on an average daily volume of 920,400 shares, the short-interest ratio is presently 7.7 days.

Analyst Ratings Changes

Several research analysts recently commented on KC shares. CLSA raised Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 target price for the company in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Citigroup upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Thursday, March 21st. Finally, Jefferies Financial Group lifted their price objective on Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.55.

Kingsoft Cloud Stock Up 6.1 %

Kingsoft Cloud stock traded up $0.15 during mid-day trading on Wednesday, reaching $2.60. The stock had a trading volume of 679,601 shares, compared to its average volume of 1,142,279. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.89 and a current ratio of 0.89. Kingsoft Cloud has a fifty-two week low of $2.34 and a fifty-two week high of $7.42. The stock’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $2.98. The firm has a market capitalization of $659.59 million, a PE ratio of -2.28 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The company had revenue of $245.93 million during the quarter, compared to the consensus estimate of $244.03 million. Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. On average, sell-side analysts forecast that Kingsoft Cloud will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Kingsoft Cloud by 95.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after buying an additional 312,132 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after buying an additional 20,084 shares in the last quarter. Swedbank AB purchased a new position in Kingsoft Cloud during the first quarter worth about $649,000. Sei Investments Co. grew its position in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after buying an additional 35,175 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Kingsoft Cloud by 35.6% in the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares in the last quarter. 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.