Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Should You Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw strong trading volume on Tuesday . 2,087,837 shares changed hands during trading, a decline of 12% from the previous session’s volume of 2,384,098 shares.The stock last traded at $15.96 and had previously closed at $15.76.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Kingsoft Cloud Trading Down 1.0 %

The firm has a market cap of $3.94 billion, a P/E ratio of -12.94 and a beta of 2.23. The company has a 50 day moving average of $15.87 and a 200 day moving average of $9.27. 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 (NASDAQ:KC) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.08 EPS. Kingsoft Cloud’s quarterly revenue was up 29.6% on a year-over-year basis. Analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently made changes to their positions in KC. D. E. Shaw & Co. Inc. bought a new stake in Kingsoft Cloud during the fourth quarter worth approximately $21,076,000. Voloridge Investment Management LLC acquired a new stake in shares of Kingsoft Cloud in the fourth quarter worth $16,345,000. Millennium Management LLC boosted its holdings in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock worth $9,389,000 after buying an additional 873,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Kingsoft Cloud by 628.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock valued at $8,464,000 after buying an additional 696,094 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Kingsoft Cloud in the 4th quarter worth $6,378,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.