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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $8.44, but opened at $8.22. Kingsoft Cloud shares last traded at $8.20, with a volume of 291,225 shares.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Price Performance

The firm has a market capitalization of $2.13 billion, a PE ratio of -7.00 and a beta of 2.49. 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 business's 50 day moving average is $5.29 and its two-hundred day moving average is $3.55.

Institutional Investors Weigh In On Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in KC. Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after acquiring an additional 255,795 shares during the last quarter. State Street Corp grew its holdings in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock valued at $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Kingsoft Cloud during the 3rd quarter valued at $119,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud in the 3rd quarter worth $326,000. Finally, GSA Capital Partners LLP lifted its stake in 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. Hedge funds and other institutional investors own 13.40% of the company's stock.

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.