Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Up 17.1% in December

Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 9,440,000 shares, an increase of 17.1% from the December 15th total of 8,060,000 shares. Based on an average daily volume of 3,640,000 shares, the short-interest ratio is currently 2.6 days.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kingsoft Cloud during the third quarter worth about $326,000. State Street Corp grew its holdings in Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after acquiring an additional 3,104 shares during the period. Blue Trust Inc. grew its holdings in Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after acquiring an additional 4,458 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the third quarter worth about $47,000. 13.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KC has been the subject of a number of research analyst reports. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Performance

KC traded up $0.06 during trading hours on Friday, hitting $9.97. 1,585,983 shares of the stock were exchanged, compared to its average volume of 2,942,596. The stock has a 50-day simple moving average of $8.43 and a 200-day simple moving average of $4.70. Kingsoft Cloud has a 12 month low of $2.02 and a 12 month high of $12.84. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -8.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

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.