Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - Should You Sell?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.33, but opened at $11.94. Kingsoft Cloud shares last traded at $11.80, with a volume of 385,032 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KC. 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 lowered shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a report on Saturday. 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.33.

Kingsoft Cloud Trading Up 0.3%

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The firm's 50 day simple moving average is $12.76 and its two-hundred day simple moving average is $13.62. The stock has a market cap of $3.23 billion, a P/E ratio of -10.51 and a beta of 2.10.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently bought and sold shares of KC. Man Group plc bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $711,000. Quantbot Technologies LP bought a new position in shares of Kingsoft Cloud during the 4th quarter valued at about $226,000. Invesco Ltd. boosted its position in shares of Kingsoft Cloud by 8.4% during the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock valued at $659,000 after purchasing an additional 4,878 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Kingsoft Cloud by 4,098.3% during the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after purchasing an additional 873,686 shares in the last quarter. 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.