Kingsoft Cloud (NASDAQ:KC) Trading Down 5% – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price fell 5% during mid-day trading on Thursday . The stock traded as low as $14.50 and last traded at $14.76. 1,099,560 shares were traded during trading, a decline of 54% from the average session volume of 2,392,874 shares. The stock had previously closed at $15.53.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KC shares. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The business’s fifty day simple moving average is $15.87 and its 200 day simple moving average is $9.27. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -12.63 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. On average, research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Several institutional investors and hedge funds have recently modified their holdings of KC. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud in the third quarter valued at about $326,000. Walleye Capital LLC purchased a new stake in Kingsoft Cloud in the 3rd quarter valued at about $119,000. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after buying an additional 255,795 shares during the last quarter. Finally, Yeomans Consulting Group Inc. bought a new position in shares of Kingsoft Cloud in the fourth quarter valued at approximately $318,000. 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.