Kingsoft Cloud (NASDAQ:KC) Shares Down 5.9% - Time to Sell?

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

Analyst Upgrades and Downgrades

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

Kingsoft Cloud Stock Down 6.4%

The stock's fifty day moving average is $13.26 and its two-hundred day moving average is $12.76. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.04 billion, a PE ratio of -9.22 and a beta of 2.24.

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

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Kingsoft Cloud in the 1st quarter valued at about $78,000. Goldman Sachs Group Inc. raised its stake in Kingsoft Cloud by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 133,634 shares of the company's stock valued at $1,919,000 after acquiring an additional 11,720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kingsoft Cloud by 0.5% during 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 buying 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 about $3,034,000. Finally, Vident Advisory LLC increased its position 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 period. 13.40% of the stock is currently owned by institutional investors.

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.