Kingsoft Cloud (NASDAQ:KC) Stock Price Down 4.1% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price traded down 4.1% during trading on Monday . The company traded as low as $8.64 and last traded at $8.78. 775,104 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,741,079 shares. The stock had previously closed at $9.16.

Analysts Set New Price Targets

Several research firms have commented on KC. Bank of America decreased 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. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.20 to $12.50 in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -7.08 and a beta of 2.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $5.19 and its two-hundred day moving average price is $3.52.

Institutional Trading of Kingsoft Cloud

Several institutional investors and hedge funds have recently made changes to their positions in KC. State Street Corp increased its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Kingsoft Cloud by 4.0% during the second quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after buying an additional 17,700 shares during the last quarter. Jane Street Group LLC increased its position in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the period. GSA Capital Partners LLP raised its stake in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after purchasing an additional 81,751 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud during the 3rd quarter worth $326,000. 13.40% of the stock is owned by hedge funds and other 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.