Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume - Time to Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 2,087,837 shares traded hands during mid-day trading, a decline of 12% from the previous session's volume of 2,384,098 shares.The stock last traded at $15.96 and had previously closed at $15.76.

Wall Street Analysts Forecast Growth

KC has been the topic of several analyst reports. Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd.

Kingsoft Cloud Stock Down 8.2 %

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.54 billion, a PE ratio of -11.64 and a beta of 2.23. The business has a 50-day simple moving average of $16.05 and a 200-day simple moving average of $9.39.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. The firm's revenue was up 29.6% compared to the same quarter last year. Equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. purchased a new stake in Kingsoft Cloud during the 4th quarter valued at about $21,076,000. Voloridge Investment Management LLC purchased a new stake in shares of Kingsoft Cloud in the fourth quarter valued at approximately $16,345,000. Millennium Management LLC increased its holdings in shares of Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after purchasing an additional 873,686 shares during the last quarter. Renaissance Technologies LLC lifted its position in Kingsoft Cloud by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after buying an additional 356,834 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after buying an additional 696,094 shares during the last quarter. 13.40% of the stock is currently 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.