Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $9.63, but opened at $9.27. Kingsoft Cloud shares last traded at $9.28, with a volume of 448,957 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KC shares. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Bank of America dropped their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. Finally, Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. One research 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 company. According to MarketBeat.com, Kingsoft Cloud presently has an average rating of "Buy" and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

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 firm has a market capitalization of $2.32 billion, a PE ratio of -7.63 and a beta of 2.49. The business's 50 day moving average is $4.99 and its two-hundred day moving average is $3.43.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KC. State Street Corp increased its holdings in shares of Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after buying an additional 3,104 shares during the period. Renaissance Technologies LLC increased its stake in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock worth $1,156,000 after purchasing an additional 17,700 shares during the period. Jane Street Group LLC lifted its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after purchasing an additional 255,795 shares during the last quarter. Swedbank AB boosted its stake in shares of Kingsoft Cloud by 5.5% during the second quarter. Swedbank AB now owns 225,140 shares of the company's stock valued at $565,000 after purchasing an additional 11,800 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock worth $507,000 after purchasing an additional 81,751 shares during the last quarter. 13.40% of the stock is 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.