Kingsoft Cloud (NASDAQ:KC) Stock Price Down 4.5% – Should You Sell?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) were down 4.5% during trading on Tuesday . The company traded as low as $10.92 and last traded at $10.94. Approximately 544,086 shares changed hands during trading, a decline of 70% from the average daily volume of 1,838,449 shares. The stock had previously closed at $11.46.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Stock Down 8.5 %

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -8.74 and a beta of 2.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $6.57 and its two-hundred day moving average is $4.01.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Kingsoft Cloud by 0.5% in the 3rd 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 in the last quarter. Renaissance Technologies LLC raised its stake in Kingsoft Cloud by 4.0% in the second 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 in the last quarter. Jane Street Group LLC lifted its holdings in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after buying an additional 255,795 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after acquiring an additional 81,751 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the 3rd quarter valued at about $326,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.