Kingsoft Cloud (NASDAQ:KC) Shares Gap Up - What's Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.83, but opened at $2.97. Kingsoft Cloud shares last traded at $3.02, with a volume of 740,267 shares trading hands.

Analyst Ratings Changes

Separately, Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Kingsoft Cloud presently has an average rating of "Moderate Buy" and a consensus price target of $4.10.

Kingsoft Cloud Price Performance

The stock has a market cap of $743.30 million, a PE ratio of -2.57 and a beta of 2.00. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The company's 50 day moving average is $2.68 and its 200-day moving average is $2.75.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. As a group, sell-side analysts predict that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently modified their holdings of KC. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $27,000. Blue Trust Inc. acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $47,000. Headlands Technologies LLC boosted its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after buying an additional 24,932 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Kingsoft Cloud by 33.6% in the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company's stock valued at $426,000 after buying an additional 35,175 shares during the period. Institutional investors own 13.40% of the company's stock.

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.