Kingsoft Cloud (NASDAQ:KC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw an uptick in trading volume on Friday . 1,102,890 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 1,482,371 shares.The stock last traded at $5.07 and had previously closed at $4.65.

Wall Street Analyst Weigh In

Separately, Bank of America lowered 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Stock Up 9.5 %

The stock’s fifty day moving average price is $3.01 and its 200-day moving average price is $2.83. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.94 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB acquired a new stake in Kingsoft Cloud in the 1st quarter valued at about $649,000. SG Americas Securities LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter valued at approximately $47,000. Blue Trust Inc. lifted its position in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after acquiring an additional 24,932 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after acquiring an additional 17,700 shares during the last quarter. 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.