Kingsoft Cloud (NASDAQ:KC) Trading Down 8.3% - What's Next?

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Nomura downgraded Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kingsoft Cloud currently has an average rating of "Hold" and an average price target of $6.55.

Kingsoft Cloud Stock Down 0.4 %

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 company has a fifty day simple moving average of $15.75 and a 200-day simple moving average of $9.22. The firm has a market cap of $3.98 billion, a P/E ratio of -13.08 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the company posted $0.08 EPS. The firm's revenue was up 29.6% on a year-over-year basis. On average, equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

A number of hedge funds and other institutional investors have recently modified their holdings of KC. Public Employees Retirement System of Ohio bought a new position in Kingsoft Cloud in the 4th quarter worth $609,000. GTS Securities LLC bought a new position in shares of Kingsoft Cloud in the fourth quarter worth about $325,000. Vise Technologies Inc. purchased a new stake in shares of Kingsoft Cloud during the fourth quarter worth about $125,000. Voloridge Investment Management LLC bought a new stake in Kingsoft Cloud during the 4th quarter valued at approximately $16,345,000. Finally, Vident Advisory LLC lifted its holdings in Kingsoft Cloud by 158.9% in the 4th quarter. Vident Advisory LLC now owns 89,794 shares of the company's stock worth $942,000 after purchasing an additional 55,113 shares in the last quarter. 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.