Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - Here's What Happened

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $12.90, but opened at $11.87. Kingsoft Cloud shares last traded at $11.63, with a volume of 869,707 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KC. Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective on the stock in a report on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $3.21 billion, a P/E ratio of -9.72 and a beta of 2.24. The company has a 50-day moving average of $13.50 and a 200 day moving average of $12.55.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its quarterly 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. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the firm posted $0.08 EPS. The business's revenue was up 29.6% on a year-over-year basis. On average, sell-side analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in shares of Kingsoft Cloud in the 1st quarter worth $65,000. Bayforest Capital Ltd bought a new stake in shares of Kingsoft Cloud in the first quarter valued at about $78,000. Atlas Capital Advisors Inc. bought a new stake in shares of Kingsoft Cloud in the first quarter valued at about $104,000. Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $119,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Kingsoft Cloud in the fourth quarter valued at about $125,000. 13.40% of the stock is owned by institutional investors and hedge funds.

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.

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