Kingsoft Cloud (NASDAQ:KC) Shares Down 5.9% - What's Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) fell 5.9% during trading on Friday . The stock traded as low as $11.12 and last traded at $11.12. 291,532 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,769,635 shares. The stock had previously closed at $11.81.

Wall Street Analysts Forecast Growth

KC has been the subject of a number of recent research reports. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company 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 report on Monday, May 5th.

Kingsoft Cloud Trading Down 1.1%

The company has a market capitalization of $3.06 billion, a PE ratio of -9.28 and a beta of 2.24. The stock has a fifty day moving average of $13.17 and a 200 day moving average of $12.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business's revenue was up 29.6% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in shares of Kingsoft Cloud during the first quarter valued at approximately $65,000. Bayforest Capital Ltd bought a new position in Kingsoft Cloud in the 1st quarter valued at $78,000. Atlas Capital Advisors Inc. purchased a new stake in Kingsoft Cloud in the first quarter worth $104,000. Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth $119,000. Finally, Vise Technologies Inc. bought a new stake in shares of Kingsoft Cloud during the fourth quarter worth $125,000. Institutional investors 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.