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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $12.37, but opened at $12.11. Kingsoft Cloud shares last traded at $11.88, with a volume of 286,985 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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 upgraded 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 report on Monday, May 5th.

Kingsoft Cloud Stock Performance

The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -9.88 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a fifty day moving average of $13.00 and a 200 day moving average of $12.83.

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

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds have recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in Kingsoft Cloud in the 1st quarter valued at about $65,000. Bayforest Capital Ltd purchased a new stake in Kingsoft Cloud in the first quarter valued at $78,000. Atlas Capital Advisors Inc. acquired a new position in shares of Kingsoft Cloud in the 1st quarter valued at $104,000. Marshall Wace LLP purchased a new position in shares of Kingsoft Cloud during the 4th quarter worth $119,000. Finally, Vise Technologies Inc. purchased a new position in shares of Kingsoft Cloud during the 4th quarter worth $125,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.