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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $12.54, but opened at $11.99. Kingsoft Cloud shares last traded at $12.04, with a volume of 339,650 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on KC. Nomura cut Kingsoft Cloud from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Nomura Securities cut shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Kingsoft Cloud Trading Up 8.5 %

The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -11.23 and a beta of 2.23. The business has a 50 day simple moving average of $14.91 and a two-hundred day simple moving average of $11.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping 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 business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the firm earned $0.08 EPS. The business's quarterly revenue was up 29.6% on a year-over-year basis. As a group, equities analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KC. Compagnie Lombard Odier SCmA acquired a new stake in Kingsoft Cloud during the 1st quarter worth about $65,000. Marshall Wace LLP acquired a new position in Kingsoft Cloud during the fourth quarter worth $119,000. Vise Technologies Inc. acquired a new position in Kingsoft Cloud during the fourth quarter valued at approximately $125,000. Personal CFO Solutions LLC bought a new stake in shares of Kingsoft Cloud during the 1st quarter worth $176,000. Finally, Cetera Investment Advisers acquired a new position in Kingsoft Cloud in the 4th quarter valued at $138,000. Institutional investors own 13.40% of the company's stock.

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.