Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares saw strong trading volume on Friday . 1,102,890 shares changed hands during trading, a decline of 26% from the previous session's volume of 1,482,371 shares.The stock last traded at $5.07 and had previously closed at $4.65.
Wall Street Analysts Forecast Growth
Separately, Bank of America decreased their target price on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $4.10.
Read Our Latest Research Report on KC
Kingsoft Cloud Trading Up 8.6 %
The business's fifty day moving average is $3.01 and its two-hundred day moving average is $2.83. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -4.94 and a beta of 2.00.
Kingsoft Cloud (NASDAQ:KC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The business had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. Equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Kingsoft Cloud
Several large investors have recently bought and sold shares of KC. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud in the second quarter valued at approximately $27,000. Blue Trust Inc. acquired a new stake in Kingsoft Cloud in the 2nd quarter valued at $36,000. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Headlands Technologies LLC raised its holdings in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock worth $83,000 after acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud during the third quarter valued at approximately $119,000. Institutional investors own 13.40% of the company's stock.
About Kingsoft Cloud
(
Get Free Report)
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.
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