Kingsoft Cloud (NASDAQ:KC) Shares Down 5.1% - Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares dropped 5.1% during trading on Friday . The company traded as low as $12.52 and last traded at $12.61. Approximately 854,208 shares changed hands during trading, a decline of 60% from the average daily volume of 2,151,799 shares. The stock had previously closed at $13.28.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their target price for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Kingsoft Cloud presently has a consensus rating of "Buy" and an average target price of $5.93.

Kingsoft Cloud Stock Performance

The firm has a market cap of $3.85 billion, a P/E ratio of -12.66 and a beta of 2.30. 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's 50 day moving average is $9.76 and its two-hundred day moving average is $5.39.

Institutional Trading of Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after buying an additional 2,200 shares in the last quarter. State Street Corp increased its position in Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock valued at $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after acquiring an additional 4,458 shares during the last quarter. XY Capital Ltd lifted its position in shares of Kingsoft Cloud by 19.1% during the fourth quarter. XY Capital Ltd now owns 86,567 shares of the company's stock worth $908,000 after purchasing an additional 13,909 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the third quarter valued at approximately $47,000. 13.40% of the stock is owned by 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.