Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $12.54, but opened at $11.99. Kingsoft Cloud shares last traded at $12.04, with a volume of 339,650 shares traded.
Analyst Upgrades and Downgrades
Several research firms have weighed in on KC. Nomura Securities cut Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Nomura cut Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd.
Read Our Latest Stock Analysis on KC
Kingsoft Cloud Stock Performance
The stock has a market capitalization of $3.03 billion, a P/E ratio of -9.97 and a beta of 2.23. The company has a 50 day simple moving average of $15.21 and a 200-day simple moving average of $10.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.
Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business's revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. On average, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.
Hedge Funds Weigh In On Kingsoft Cloud
A number of large investors have recently modified their holdings of KC. Compagnie Lombard Odier SCmA bought a new position in shares of Kingsoft Cloud in the first quarter valued at approximately $65,000. Marshall Wace LLP bought a new stake in Kingsoft Cloud during the fourth quarter valued at approximately $119,000. Vise Technologies Inc. bought a new stake in Kingsoft Cloud during the fourth quarter valued at approximately $125,000. Cetera Investment Advisers bought a new stake in Kingsoft Cloud during the fourth quarter valued at approximately $138,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.
Kingsoft Cloud Company Profile
(
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.
Further Reading
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