Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - Time to Sell?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a research note on Monday, May 5th.

Kingsoft Cloud Trading Down 6.4%

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.04 billion, a P/E ratio of -9.22 and a beta of 2.24. The firm's 50 day simple moving average is $13.26 and its two-hundred day simple moving average is $12.70.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KC. Compagnie Lombard Odier SCmA purchased a new position in Kingsoft Cloud during the first quarter worth about $65,000. Bayforest Capital Ltd bought a new stake in shares of Kingsoft Cloud in the first quarter valued at approximately $78,000. Atlas Capital Advisors Inc. bought a new stake in shares of Kingsoft Cloud in the first quarter valued at approximately $104,000. Marshall Wace LLP bought a new stake in Kingsoft Cloud during the 4th quarter worth approximately $119,000. Finally, Vise Technologies Inc. bought a new stake in Kingsoft Cloud during the 4th quarter worth approximately $125,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.