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

Key Points

• Kingsoft Cloud's stock price dropped from $16.34 to $15.80 after opening, and last traded at $15.61 with a trading volume of 535,619 shares.
• Wall Street analysts have a consensus rating of "Buy" for Kingsoft Cloud, with a price target of $17.27, reflecting optimism about the company's growth potential.
• Institutional investors are actively adjusting their positions, with significant increases in stakes from companies like Deutsche Bank AG and Millennium Management LLC, suggesting strong institutional interest.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $16.34, but opened at $15.80. Kingsoft Cloud shares last traded at $15.61, with a volume of 535,619 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on KC. Bank of America upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating in a report on Tuesday, September 9th. Zacks Research upgraded Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Wall Street Zen upgraded Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Kingsoft Cloud in a report on Tuesday. They issued a "buy" rating and a $21.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $17.27.

Kingsoft Cloud Stock Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.62 billion, a PE ratio of -14.48 and a beta of 2.18. The stock has a fifty day moving average of $14.68 and a 200-day moving average of $13.93.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of the company. Voloridge Investment Management LLC acquired a new stake in Kingsoft Cloud during the 4th quarter valued at $16,345,000. JPMorgan Chase & Co. increased its position in shares of Kingsoft Cloud by 2,541.3% during the second quarter. JPMorgan Chase & Co. now owns 1,129,120 shares of the company's stock worth $14,137,000 after acquiring an additional 1,086,372 shares during the last quarter. Millennium Management LLC increased its position in shares of Kingsoft Cloud by 4,098.3% during the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after acquiring an additional 873,686 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Kingsoft Cloud during the first quarter worth about $10,573,000. Finally, Two Sigma Investments LP acquired a new position in Kingsoft Cloud in the fourth quarter worth about $6,378,000. Institutional investors and hedge funds 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.