Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - What's Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $18.44, but opened at $17.62. Kingsoft Cloud shares last traded at $17.90, with a volume of 514,843 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on KC. Nomura lowered shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. UBS Group raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.55.

Kingsoft Cloud Stock Up 1.0 %

The firm's 50-day moving average price is $15.49 and its 200-day moving average price is $9.03. 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 market cap of $3.95 billion, a price-to-earnings ratio of -12.98 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm's quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $119,000. Vise Technologies Inc. purchased a new stake in Kingsoft Cloud during the 4th quarter worth $125,000. Cetera Investment Advisers acquired a new position in Kingsoft Cloud in the 4th quarter worth $138,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Kingsoft Cloud by 12.7% in the 4th 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 during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Kingsoft Cloud during the fourth quarter valued at about $226,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

About Kingsoft Cloud

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.