Kingsoft Cloud (NASDAQ:KC) Shares Down 6.2% - What's Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) were down 6.2% during trading on Wednesday . The company traded as low as $17.13 and last traded at $16.97. Approximately 976,174 shares traded hands during trading, a decline of 74% from the average daily volume of 3,780,907 shares. The stock had previously closed at $18.09.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KC shares. Nomura lowered Kingsoft Cloud from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. UBS Group upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities cut Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $5.93.

Kingsoft Cloud Stock Up 3.4 %

The business has a 50-day simple moving average of $14.81 and a two-hundred day simple moving average of $8.42. The stock has a market capitalization of $4.39 billion, a P/E ratio of -14.43 and a beta of 2.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Trading of Kingsoft Cloud

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at $21,076,000. Voloridge Investment Management LLC bought a new position in Kingsoft Cloud in the fourth quarter valued at about $16,345,000. Millennium Management LLC boosted its holdings in Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock valued at $9,105,000 after acquiring an additional 356,834 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kingsoft Cloud by 628.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after acquiring an additional 696,094 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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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.