Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $11.35, but opened at $11.01. Kingsoft Cloud shares last traded at $11.01, with a volume of 368,587 shares traded.

Wall Street Analysts Forecast Growth

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

Kingsoft Cloud Trading Down 4.1 %

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 stock has a market capitalization of $2.63 billion, a P/E ratio of -8.65 and a beta of 2.29. The firm’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $4.30.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in KC. Jane Street Group LLC raised 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 period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the third quarter worth approximately $326,000. GSA Capital Partners LLP raised its holdings 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 valued at $507,000 after acquiring an additional 81,751 shares during the period. XY Capital Ltd purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at approximately $214,000. Finally, Walleye Capital LLC acquired a new position in Kingsoft Cloud in the 3rd quarter worth approximately $119,000. 13.40% of the stock is currently owned by institutional investors.

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.