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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $12.57, but opened at $11.76. Kingsoft Cloud shares last traded at $11.33, with a volume of 1,727,588 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on KC. 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 note on Friday, December 6th. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Finally, Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One 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. Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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 company has a 50 day moving average price of $6.24 and a 200 day moving average price of $3.90. The firm has a market cap of $2.91 billion, a PE ratio of -9.55 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud in the second quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $47,000. Blue Trust Inc. increased its holdings in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock valued at $56,000 after acquiring an additional 4,458 shares in the last quarter. Headlands Technologies LLC raised its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock worth $83,000 after acquiring an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud in the third quarter valued at about $119,000. 13.40% of the stock is currently 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.