Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 7,290,000 shares, a growth of 24.0% from the October 31st total of 5,880,000 shares. Based on an average daily trading volume, of 3,080,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

KC has been the subject of several analyst reports. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Bank of America decreased their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Stock Up 10.9 %

Kingsoft Cloud stock traded up $0.73 during mid-day trading on Monday, reaching $7.42. 4,922,642 shares of the company were exchanged, compared to its average volume of 1,670,004. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $1.88 billion, a P/E ratio of -6.14 and a beta of 2.00. The business has a fifty day moving average of $3.86 and a 200 day moving average of $3.04. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $7.78.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors have recently bought and sold shares of the company. Profund Advisors LLC acquired a new position in Kingsoft Cloud during the 2nd quarter valued at approximately $27,000. Blue Trust Inc. acquired a new stake in Kingsoft Cloud during the 2nd quarter worth about $36,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Headlands Technologies LLC raised its stake in shares of 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 acquired a new stake in shares of Kingsoft Cloud during the third quarter worth about $119,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.