Kingsoft Cloud (NASDAQ:KC) Shares Up 8.3% – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price shot up 8.3% during trading on Monday . The company traded as high as $2.88 and last traded at $2.88. 1,039,486 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 1,336,679 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Separately, Bank of America reduced their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.10.

Kingsoft Cloud Stock Up 6.4 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $717.93 million, a P/E ratio of -2.49 and a beta of 2.00. The company has a fifty day moving average of $2.67 and a 200 day moving average of $2.75.

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

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently bought and sold shares of the stock. Profund Advisors LLC purchased a new position in Kingsoft Cloud during the second quarter valued at $27,000. Blue Trust Inc. purchased a new position in Kingsoft Cloud during the second quarter valued at $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud during the third quarter valued at $47,000. Headlands Technologies LLC lifted its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after purchasing an additional 35,175 shares in the last quarter. 13.40% of the stock is currently 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.