Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Up 17.1% in December

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 9,440,000 shares, a growth of 17.1% from the December 15th total of 8,060,000 shares. Based on an average daily volume of 3,640,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KC. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kingsoft Cloud presently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Up 0.6 %

Shares of Kingsoft Cloud stock traded up $0.06 during trading on Friday, hitting $9.97. 1,585,983 shares of the stock traded hands, compared to its average volume of 2,942,596. The stock has a market cap of $2.53 billion, a P/E ratio of -8.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $12.84. The company has a fifty day moving average price of $8.43 and a two-hundred day moving average price of $4.70.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors have recently made changes to their positions in KC. Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud during the 2nd quarter valued at about $27,000. SG Americas Securities LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Blue Trust Inc. lifted its holdings in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares during the last quarter. Walleye Capital LLC acquired a new stake in Kingsoft Cloud in the 3rd quarter worth approximately $119,000. Finally, XY Capital Ltd acquired a new stake in Kingsoft Cloud in the 3rd quarter worth approximately $214,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.