Kingsoft Cloud (NASDAQ:KC) Trading 5.8% Higher – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price traded up 5.8% on Wednesday . The company traded as high as $12.47 and last traded at $12.13. 626,966 shares traded hands during trading, a decline of 75% from the average session volume of 2,489,948 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

Several analysts recently commented on KC shares. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Nomura Securities lowered Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $16.45 and its 200 day moving average is $10.22. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -11.85 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business earned $0.08 earnings per share. The company’s quarterly revenue was up 29.6% on a year-over-year basis. On average, analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud during the 3rd quarter worth about $119,000. State Street Corp lifted its stake in shares of Kingsoft Cloud by 0.5% during 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 period. Jane Street Group LLC boosted its position 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 last quarter. Yeomans Consulting Group Inc. purchased a new stake in Kingsoft Cloud in the 4th quarter worth approximately $318,000. Finally, WT Asset Management Ltd acquired a new position in Kingsoft Cloud in the 4th quarter valued at $2,613,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

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.