Kingsoft Cloud (NASDAQ:KC) Trading Down 13.3% - Here's Why

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) traded down 13.3% during mid-day trading on Monday . The stock traded as low as $10.92 and last traded at $11.56. 715,316 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,466,435 shares. The stock had previously closed at $13.34.

Analyst Upgrades and Downgrades

KC has been the subject of several analyst reports. Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Nomura lowered shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd.

Kingsoft Cloud Trading Up 12.4 %

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 has a fifty day moving average of $16.43 and a two-hundred day moving average of $10.31. The company has a market capitalization of $3.61 billion, a PE ratio of -11.85 and a beta of 2.23.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. Kingsoft Cloud's revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. bought a new stake in shares of Kingsoft Cloud during the 4th quarter valued at $21,076,000. Voloridge Investment Management LLC purchased a new stake in Kingsoft Cloud in the fourth quarter worth about $16,345,000. Millennium Management LLC raised its stake in shares of Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after buying an additional 873,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kingsoft Cloud by 628.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after buying an additional 696,094 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at approximately $6,378,000. 13.40% of the stock is owned by hedge funds and other 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.