Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Still a Buy?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares saw an uptick in trading volume on Thursday . 1,217,882 shares changed hands during trading, a decline of 14% from the previous session’s volume of 1,417,628 shares.The stock last traded at $4.19 and had previously closed at $3.77.

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Price Performance

The company’s fifty day moving average price is $2.72 and its 200 day moving average price is $2.76. The company has a market capitalization of $1.07 billion, a P/E ratio of -4.08 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $260.32 million for the quarter, compared to the consensus estimate of $251.17 million. As a group, sell-side analysts forecast that Kingsoft Cloud Holdings Limited will post -0.69 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Institutional investors and hedge funds have recently modified their holdings of the business. Profund Advisors LLC bought a new position in Kingsoft Cloud during the 2nd quarter worth approximately $27,000. Blue Trust Inc. purchased a new stake in Kingsoft Cloud in the 2nd quarter valued at $36,000. SG Americas Securities LLC purchased a new position in Kingsoft Cloud during the third quarter worth about $47,000. Headlands Technologies LLC lifted its position in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after buying an additional 24,932 shares in the last quarter. Finally, XY Capital Ltd bought a new position in shares of Kingsoft Cloud in the third quarter valued at approximately $214,000. 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.