Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Drops By 13.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,880,000 shares, a drop of 13.3% from the October 15th total of 6,780,000 shares. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.10.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock worth $948,000 after acquiring an additional 255,795 shares during the period. State Street Corp increased its stake in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company's stock worth $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth approximately $119,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kingsoft Cloud in the 3rd quarter worth approximately $326,000. Finally, GSA Capital Partners LLP lifted its stake in Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock valued at $507,000 after purchasing an additional 81,751 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Trading Down 14.1 %

KC stock traded down $0.71 during midday trading on Monday, hitting $4.34. The stock had a trading volume of 3,113,253 shares, compared to its average volume of 1,507,485. 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 firm has a market cap of $1.10 billion, a P/E ratio of -4.21 and a beta of 2.00. The business has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $2.84. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $5.64.

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

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.