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

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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.

Read Our Latest Analysis on Kingsoft Cloud

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

(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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