Kingsoft Cloud (NASDAQ:KC) Trading Down 8.3% - Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) traded down 8.3% on Friday . The company traded as low as $15.18 and last traded at $15.10. 2,150,031 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 2,354,569 shares. The stock had previously closed at $16.48.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KC. Nomura Securities cut Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Nomura downgraded Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.55.

Kingsoft Cloud Price Performance

The company has a market cap of $4.07 billion, a price-to-earnings ratio of -13.38 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average price of $15.63 and a 200 day moving average price of $9.13.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company posted $0.08 EPS. Kingsoft Cloud's quarterly revenue was up 29.6% compared to the same quarter last year. As a group, research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

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Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new stake in Kingsoft Cloud during the third quarter worth approximately $119,000. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $119,000. Vise Technologies Inc. acquired a new stake in shares of Kingsoft Cloud during the 4th quarter worth approximately $125,000. Cetera Investment Advisers bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $138,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after acquiring an additional 2,200 shares during the period. Institutional investors and hedge funds 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.