Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Down 13.3% in October

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,880,000 shares, a decline 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 short-interest ratio is presently 2.5 days.

Kingsoft Cloud Stock Performance

Shares of NASDAQ KC traded down $0.71 during trading hours on Monday, reaching $4.34. The stock had a trading volume of 3,113,253 shares, compared to its average volume of 1,507,485. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $5.64. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -4.15 and a beta of 2.00. The business’s fifty day moving average is $3.06 and its two-hundred day moving average is $2.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (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 company had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. As a group, research analysts expect that Kingsoft Cloud will post -0.69 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Kingsoft Cloud

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. Swedbank AB acquired a new stake in Kingsoft Cloud during the first quarter worth approximately $649,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kingsoft Cloud during the third quarter valued at about $326,000. GSA Capital Partners LLP boosted its position in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares in the last quarter. Finally, XY Capital Ltd acquired a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at about $214,000. 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.