Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $2.77, but opened at $3.10. Kingsoft Cloud shares last traded at $3.15, with a volume of 937,010 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Bank of America cut 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.10.
Get Our Latest Stock Analysis on Kingsoft Cloud
Kingsoft Cloud Trading Up 19.5 %
The firm has a market cap of $839.71 million, a P/E ratio of -3.21 and a beta of 2.00. The business's 50-day moving average is $2.71 and its two-hundred day moving average is $2.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.
Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The business had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. As a group, analysts predict that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.
Institutional Trading of Kingsoft Cloud
A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Kingsoft Cloud by 95.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company's stock worth $1,947,000 after purchasing an additional 312,132 shares in the last quarter. Swedbank AB acquired a new stake in Kingsoft Cloud in the 1st quarter worth about $649,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter worth about $47,000. Headlands Technologies LLC raised its position in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after buying an additional 24,932 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 13.40% of the company's stock.
About Kingsoft Cloud
(
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.
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