Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down before the market opened on Tuesday . The stock had previously closed at $4.80, but opened at $4.55. Kingsoft Cloud shares last traded at $4.40, with a volume of 581,273 shares traded.

Analyst Ratings Changes

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

Kingsoft Cloud Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $1.13 billion, a PE ratio of -4.32 and a beta of 2.00. The firm has a fifty day moving average price of $2.96 and a 200 day moving average price of $2.82.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results 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 25.33% and a negative return on equity of 24.99%. The business had revenue of $260.32 million during the quarter, compared to analysts’ expectations of $251.17 million. Research analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud during the second quarter worth $27,000. Blue Trust Inc. acquired a new stake in Kingsoft Cloud during the 2nd quarter worth about $36,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud during the 3rd quarter valued at about $47,000. Headlands Technologies LLC lifted its holdings in shares of 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 period. Finally, XY Capital Ltd purchased a new stake in shares of Kingsoft Cloud in the third quarter worth about $214,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

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.