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

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price 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 traded.

Analyst Ratings Changes

Several research firms recently weighed in on KC. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target on the stock in a research note on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th.

Kingsoft Cloud Price Performance

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 firm has a fifty day moving average price of $12.96 and a two-hundred day moving average price of $12.98. The stock has a market capitalization of $3.61 billion, a P/E ratio of -10.94 and a beta of 2.12.

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 the consensus estimate of ($0.11) by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The company's revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. On average, analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Kingsoft Cloud during the 1st quarter valued at about $65,000. Bayforest Capital Ltd purchased a new position in shares of Kingsoft Cloud during the 1st quarter valued at about $78,000. Atlas Capital Advisors Inc. purchased a new position in shares of Kingsoft Cloud during the 1st quarter valued at about $104,000. Marshall Wace LLP purchased a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $119,000. Finally, Vise Technologies Inc. purchased a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $125,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

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.