Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume - What's Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,217,882 shares traded hands during mid-day trading, a decline of 14% from the previous session's volume of 1,417,628 shares.The stock last traded at $4.19 and had previously closed at $3.77.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered their target price on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating for the company in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4.10.

Kingsoft Cloud Stock Up 11.4 %

The firm has a market cap of $1.07 billion, a PE ratio of -4.08 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The firm's 50-day moving average price is $2.72 and its two-hundred day moving average price is $2.76.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The firm had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. As a group, equities research analysts expect that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Kingsoft Cloud by 95.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company's stock valued at $1,947,000 after purchasing an additional 312,132 shares during the last quarter. Swedbank AB acquired a new position in Kingsoft Cloud during the 1st quarter valued at about $649,000. GSA Capital Partners LLP raised its stake in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after buying an additional 81,751 shares during the last quarter. XY Capital Ltd acquired a new stake in Kingsoft Cloud during the 3rd quarter worth $214,000. Finally, Sei Investments Co. grew its position in shares of Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company's stock worth $426,000 after buying an additional 35,175 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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