Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – What’s Next?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Monday . 617,741 shares were traded during trading, a decline of 52% from the previous session’s volume of 1,298,190 shares.The stock last traded at $3.04 and had previously closed at $3.23.

Analysts Set New Price Targets

Separately, Bank of America dropped their price objective on 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Kingsoft Cloud Trading Down 9.0 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $745.84 million, a price-to-earnings ratio of -2.68 and a beta of 2.00. The company’s 50 day moving average is $2.61 and its 200 day moving average is $2.77.

Kingsoft Cloud (NASDAQ:KC) 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). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The company had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. On average, research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently bought and sold shares of the business. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at $27,000. Swedbank AB increased its stake in Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after acquiring an additional 11,800 shares during the period. Blue Trust Inc. acquired a new position in Kingsoft Cloud in the second quarter worth about $36,000. SG Americas Securities LLC bought a new position in Kingsoft Cloud during the third quarter worth about $47,000. Finally, Renaissance Technologies LLC boosted its holdings in Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares in the last quarter. Institutional investors and hedge funds 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.