Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report)’s stock price was up 6.3% during trading on Tuesday . The stock traded as high as $2.78 and last traded at $2.71. Approximately 608,393 shares were traded during trading, a decline of 46% from the average daily volume of 1,133,683 shares. The stock had previously closed at $2.55.
Analyst Upgrades and Downgrades
KC has been the subject of several recent analyst reports. Citigroup raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research note on Monday, March 11th. CLSA upgraded Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price objective on the stock in a research report on Thursday, March 21st. Finally, Jefferies Financial Group upped their price target on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kingsoft Cloud currently has an average rating of “Moderate Buy” and an average price target of $4.55.
Kingsoft Cloud Stock Performance
The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $2.92 and a 200-day moving average of $2.95. The company has a market cap of $697.65 million, a PE ratio of -2.46 and a beta of 2.00.
Kingsoft Cloud (NASDAQ:KC – Get Free Report) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The business had revenue of $245.93 million for the quarter, compared to the consensus estimate of $244.03 million. Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. Equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.45 earnings per share for the current fiscal year.
Institutional Trading of Kingsoft Cloud
Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kingsoft Cloud by 11.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock valued at $1,241,000 after purchasing an additional 33,411 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Kingsoft Cloud by 35.6% during the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock valued at $229,000 after buying an additional 15,913 shares in the last quarter. Jump Financial LLC bought a new position in shares of Kingsoft Cloud in the 4th quarter worth about $136,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Kingsoft Cloud by 50.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after acquiring an additional 5,126 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after acquiring an additional 20,084 shares in the last quarter. 13.40% of the stock is owned by institutional investors.
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.