Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Drops By 13.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,880,000 shares, a decline of 13.3% from the October 15th total of 6,780,000 shares. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is currently 2.5 days.

Institutional Trading of Kingsoft Cloud

Several large investors have recently bought and sold shares of KC. Profund Advisors LLC purchased a new position in Kingsoft Cloud during the second quarter valued at $27,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud during the second quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the third quarter valued at approximately $47,000. Headlands Technologies LLC increased its position in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after acquiring an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud during the third quarter valued at approximately $119,000. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Trading Down 14.1 %

Shares of KC stock traded down $0.71 during mid-day trading on Monday, reaching $4.34. The stock had a trading volume of 3,103,028 shares, compared to its average volume of 1,507,485. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $3.06 and its two-hundred day moving average price is $2.84. The firm has a market capitalization of $1.10 billion, a PE ratio of -4.15 and a beta of 2.00. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $5.64.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The business had revenue of $260.32 million during the quarter, compared to the consensus estimate of $251.17 million. Equities analysts expect that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.