Kingsoft Cloud (NASDAQ:KC) Shares Down 11.6% – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price dropped 11.6% on Thursday . The stock traded as low as $17.06 and last traded at $16.77. Approximately 1,032,259 shares traded hands during trading, a decline of 72% from the average daily volume of 3,723,178 shares. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

KC has been the subject of several analyst reports. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Trading Down 1.0 %

The stock has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $7.41. The firm has a market capitalization of $4.14 billion, a P/E ratio of -13.61 and a beta of 2.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares in the last quarter. Walleye Capital LLC bought a new stake in Kingsoft Cloud in the 3rd quarter worth approximately $119,000. Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth approximately $119,000. Vise Technologies Inc. bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at approximately $125,000. Finally, Cetera Investment Advisers purchased a new position in shares of Kingsoft Cloud in the fourth quarter valued at $138,000. 13.40% of the stock is 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.