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

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $17.40, but opened at $16.83. Kingsoft Cloud shares last traded at $16.98, with a volume of 1,666,661 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KC shares. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $4.33 billion, a PE ratio of -14.24 and a beta of 2.30. The business has a 50 day moving average of $10.32 and a 200 day moving average of $5.63.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares during the last quarter. Yeomans Consulting Group Inc. purchased a new stake in shares of Kingsoft Cloud during the 4th quarter worth $318,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $326,000. State Street Corp raised its stake in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after buying an additional 3,104 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other 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.