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

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $12.96, but opened at $12.55. Kingsoft Cloud shares last traded at $12.46, with a volume of 892,909 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a research note on Monday, May 5th. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th.

Kingsoft Cloud Stock Down 3.9%

The stock has a market capitalization of $3.42 billion, a P/E ratio of -11.31 and a beta of 2.12. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.37. The stock's 50 day simple moving average is $12.87 and its 200 day simple moving average is $13.38.

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors have recently made changes to their positions in the company. Bayforest Capital Ltd bought a new position in shares of Kingsoft Cloud during the first quarter worth about $78,000. Goldman Sachs Group Inc. grew its position in Kingsoft Cloud by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 133,634 shares of the company's stock worth $1,919,000 after purchasing an additional 11,720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kingsoft Cloud by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 332,906 shares of the company's stock valued at $4,781,000 after purchasing an additional 1,710 shares during the period. OLD Mission Capital LLC bought a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $3,034,000. Finally, Vident Advisory LLC raised its holdings in shares of Kingsoft Cloud by 9.3% during the first quarter. Vident Advisory LLC now owns 98,148 shares of the company's stock valued at $1,409,000 after buying an additional 8,354 shares during the last quarter. 13.40% of the stock is currently owned by 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.

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