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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw unusually-high trading volume on Thursday . Approximately 1,579,669 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 1,558,815 shares.The stock last traded at $5.83 and had previously closed at $6.53.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud currently has an average rating of “Moderate Buy” and a consensus price target of $4.10.

Kingsoft Cloud Price Performance

The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -4.84 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. The business has a 50-day simple moving average of $3.24 and a two-hundred day simple moving average of $2.88.

Kingsoft Cloud (NASDAQ:KC) last announced 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). Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 18.26%. The company had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. As a group, research analysts predict that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares in the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 4,458 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Kingsoft Cloud in the second quarter valued at approximately $27,000. Swedbank AB increased its holdings in shares of 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 purchasing an additional 11,800 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Kingsoft Cloud during the third quarter worth $47,000. 13.40% of the stock is currently owned by institutional investors.

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.