Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw unusually-strong trading volume on Thursday . Approximately 1,579,669 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 1,558,815 shares.The stock last traded at $5.83 and had previously closed at $6.53.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KC shares. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.30 to $6.70 in a research note on Friday. Bank of America lowered their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.62.

Kingsoft Cloud Price Performance

The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -6.01 and a beta of 2.00. The business has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $2.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 18.26% and a negative net margin of 28.41%. The company had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KC. Profund Advisors LLC purchased a new stake in Kingsoft Cloud in the 2nd quarter valued at about $27,000. Blue Trust Inc. bought a new stake in Kingsoft Cloud during the second quarter worth $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the third quarter worth $47,000. Headlands Technologies LLC boosted its position in Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $119,000. 13.40% of the stock is currently 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.