Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Down 15.6% in September

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 7,980,000 shares, a decrease of 15.6% from the August 31st total of 9,450,000 shares. Based on an average trading volume of 905,200 shares, the short-interest ratio is presently 8.8 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America dropped their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research 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. According to data from MarketBeat, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.10.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC acquired a new position in Kingsoft Cloud in the 2nd quarter valued at about $27,000. Renaissance Technologies LLC grew its stake in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after buying an additional 17,700 shares during the last quarter. Headlands Technologies LLC grew its stake in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Blue Trust Inc. acquired a new position in Kingsoft Cloud in the 2nd quarter valued at about $36,000. Finally, Swedbank AB grew its stake in Kingsoft Cloud by 5.5% in the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after buying an additional 11,800 shares during the last quarter. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Trading Up 5.7 %

Shares of NASDAQ KC opened at $2.95 on Monday. The company’s fifty day moving average is $2.41 and its 200-day moving average is $2.75. The stock has a market cap of $748.37 million, a price-to-earnings ratio of -2.61 and a beta of 1.98. Kingsoft Cloud has a twelve month low of $2.02 and a twelve month high of $5.80. 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 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. Equities research analysts predict that Kingsoft Cloud will post -0.69 EPS for the current year.

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.