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

Key Points

• Kingsoft Cloud's stock price gapped down from $14.17 to $13.62 upon market opening, reflecting a current trading price of $13.56 with notable trading volume.
• Analysts have rated Kingsoft Cloud with a consensus of "Moderate Buy" and a price target of $17.27, while institutional ownership stands at 13.40%.
• The company provides a range of cloud services in China, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS)

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $14.17, but opened at $13.62. Kingsoft Cloud shares last traded at $13.56, with a volume of 506,622 shares.

Analyst Upgrades and Downgrades

KC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kingsoft Cloud in a report on Tuesday, September 16th. They set a "buy" rating and a $21.00 target price for the company. Wall Street Zen raised shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Zacks Research raised shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kingsoft Cloud in a report on Wednesday. Finally, Bank of America raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.27.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The stock's fifty day moving average is $14.85 and its 200-day moving average is $13.77. The stock has a market cap of $3.60 billion, a PE ratio of -11.29 and a beta of 2.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new position in Kingsoft Cloud during the first quarter worth about $176,000. Farther Finance Advisors LLC purchased a new position in Kingsoft Cloud during the second quarter worth about $100,000. Cetera Investment Advisers boosted its stake in Kingsoft Cloud by 596.3% during the first quarter. Cetera Investment Advisers now owns 91,662 shares of the company's stock worth $1,316,000 after buying an additional 78,498 shares during the period. Dorsey Wright & Associates purchased a new position in Kingsoft Cloud during the first quarter worth about $2,044,000. Finally, Diversify Wealth Management LLC purchased a new position in Kingsoft Cloud during the first quarter worth about $741,000. Hedge funds and other 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.

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