Kingsoft Cloud (NASDAQ:KC) Trading Down 4.8% – What’s Next?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) fell 4.8% during mid-day trading on Wednesday . The company traded as low as $12.47 and last traded at $12.3470. 346,133 shares changed hands during trading, a decline of 87% from the average session volume of 2,653,618 shares. The stock had previously closed at $12.97.

Analysts Set New Price Targets

A number of brokerages have weighed in on KC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kingsoft Cloud in a research note on Wednesday, October 8th. Bank of America upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating in a report on Tuesday, September 9th. Wall Street Zen upgraded Kingsoft Cloud from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Kingsoft Cloud in a research note on Tuesday, September 16th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Zacks Research raised shares of Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Kingsoft Cloud Stock Down 4.0%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $13.38 and a 200-day moving average of $13.55. The firm has a market cap of $3.76 billion, a P/E ratio of -23.94 and a beta of 2.14.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of KC. First Horizon Advisors Inc. acquired a new stake in Kingsoft Cloud in the 2nd quarter valued at about $27,000. Bayforest Capital Ltd bought a new position in shares of Kingsoft Cloud during the 1st quarter worth approximately $78,000. Farther Finance Advisors LLC bought a new stake in Kingsoft Cloud in the 2nd quarter valued at $100,000. Atlas Capital Advisors Inc. bought a new stake in Kingsoft Cloud in the 1st quarter valued at $104,000. Finally, Beverly Hills Private Wealth LLC acquired a new stake in Kingsoft Cloud during the 2nd quarter valued at $126,000. 13.40% of the stock is 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.