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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,440,000 shares, an increase of 17.1% from the December 15th total of 8,060,000 shares. Based on an average daily volume of 3,640,000 shares, the days-to-cover ratio is currently 2.6 days.

Kingsoft Cloud Trading Up 0.6 %

Shares of NASDAQ:KC traded up $0.06 during midday trading on Monday, reaching $9.97. 1,585,983 shares of the company's stock were exchanged, compared to its average volume of 2,942,596. 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 stock has a market cap of $2.53 billion, a price-to-earnings ratio of -8.31 and a beta of 2.29. The firm's 50 day simple moving average is $8.43 and its two-hundred day simple moving average is $4.71. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week high of $12.84.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the company. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud during the second quarter worth about $27,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud in the third quarter valued at $47,000. Blue Trust Inc. grew its stake in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after buying an additional 4,458 shares during the last quarter. Yeomans Consulting Group Inc. purchased a new position in shares of Kingsoft Cloud during the fourth quarter worth approximately $318,000. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud in the third quarter valued at $119,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on KC. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, Nomura upgraded shares of 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 report on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $5.93.

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.