Kingsoft Cloud (NASDAQ:KC) Trading Down 4.3% - What's Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) traded down 4.3% during mid-day trading on Monday . The company traded as low as $9.11 and last traded at $9.17. 623,827 shares were traded during trading, a decline of 65% from the average session volume of 1,769,872 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of 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 note 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, Kingsoft Cloud presently has an average rating of "Buy" and an average price target of $5.93.

Kingsoft Cloud Price Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The business's 50-day simple moving average is $5.52 and its 200-day simple moving average is $3.65. The stock has a market cap of $2.36 billion, a PE ratio of -7.76 and a beta of 2.49.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its holdings in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after acquiring an additional 24,932 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Kingsoft Cloud by 4.0% in 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 in the last quarter. Profund Advisors LLC bought a new position in shares of Kingsoft Cloud during the second quarter valued at $27,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud in the 3rd quarter worth about $47,000. Finally, Blue Trust Inc. lifted its stake 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 during the period. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.