Kingsoft Cloud (NASDAQ:KC) Shares Gap Down - What's Next?

Key Points

• Kingsoft Cloud's stock opened at $13.92 after a gap down from a previous close of $14.77, with the last traded price at $13.63.
• Analysts have mixed ratings for Kingsoft Cloud, with the consensus being a "Buy" and a target price of $15.40, while some ratings have recently shifted to "hold" or "strong buy."
• Institutional investors have significantly increased their stakes in Kingsoft Cloud, with some hedge funds making large acquisitions and increasing their positions in the company.

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $14.77, but opened at $13.92. Kingsoft Cloud shares last traded at $13.63, with a volume of 547,575 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on KC shares. Wall Street Zen raised shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Zacks Research upgraded shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.40.

Kingsoft Cloud Trading Up 3.0%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $3.86 billion, a PE ratio of -12.12 and a beta of 2.18. The stock has a fifty day moving average price of $13.86 and a 200 day moving average price of $14.06.

Institutional Trading of Kingsoft Cloud

Several institutional investors and hedge funds have recently modified their holdings of KC. First Horizon Advisors Inc. purchased a new position in Kingsoft Cloud during the 2nd quarter worth $27,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Kingsoft Cloud during the first quarter valued at $65,000. Bayforest Capital Ltd purchased a new position in Kingsoft Cloud during the 1st quarter valued at about $78,000. Atlas Capital Advisors Inc. bought a new stake in shares of Kingsoft Cloud in the 1st quarter valued at about $104,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Kingsoft Cloud in the 2nd quarter worth approximately $100,000. 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.