Kingsoft Cloud (NASDAQ:KC) Stock Price Down 4.1% - What's Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price fell 4.1% on Monday . The stock traded as low as $8.64 and last traded at $8.78. 775,104 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,741,079 shares. The stock had previously closed at $9.16.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KC. Bank of America dropped their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating for the company in a report on Wednesday, August 21st. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price target 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 note on Friday, November 22nd. Finally, Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Kingsoft Cloud currently has an average rating of "Buy" and an average target price of $5.93.

Kingsoft Cloud Price Performance

The stock's 50-day moving average is $4.99 and its 200 day moving average is $3.44. 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 $2.27 billion, a PE ratio of -7.39 and a beta of 2.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Kingsoft Cloud by 0.5% in the third 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 period. Renaissance Technologies LLC grew its stake in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock worth $1,156,000 after purchasing an additional 17,700 shares during the period. Jane Street Group LLC lifted its stake in shares of 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 buying an additional 255,795 shares during the period. Swedbank AB lifted its stake in shares of Kingsoft Cloud by 5.5% during the second quarter. Swedbank AB now owns 225,140 shares of the company's stock valued at $565,000 after buying an additional 11,800 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Kingsoft Cloud by 90.2% during 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 period. 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.