Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.80, but opened at $15.11. Kingsoft Cloud shares last traded at $15.24, with a volume of 861,403 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on KC shares. Nomura upgraded shares of 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. Wall Street Zen downgraded shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kingsoft Cloud has a consensus rating of "Moderate Buy" and a consensus price target of $11.33.
Check Out Our Latest Report on KC
Kingsoft Cloud Stock Down 7.0%
The stock's 50-day moving average price is $12.99 and its 200-day moving average price is $14.04. The company has a market cap of $3.76 billion, a P/E ratio of -12.24 and a beta of 2.10. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. HCEP Management Ltd bought a new stake in Kingsoft Cloud in the fourth quarter valued at $535,000. Invesco Ltd. boosted its holdings in shares of Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after buying an additional 4,878 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after acquiring an additional 356,834 shares during the period. XTX Topco Ltd bought a new position in shares of Kingsoft Cloud in the fourth quarter worth about $540,000. Finally, Jump Financial LLC bought a new position in shares of Kingsoft Cloud in the fourth quarter worth about $6,179,000. 13.40% of the stock is currently owned by institutional investors.
About Kingsoft Cloud
(
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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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