Kingsoft Cloud (NASDAQ:KC) Shares Down 4.4%

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report)'s share price was down 4.4% on Monday . The company traded as low as $2.57 and last traded at $2.58. Approximately 196,477 shares traded hands during trading, a decline of 85% from the average daily volume of 1,332,392 shares. The stock had previously closed at $2.70.

Analysts Set New Price Targets

Several research firms recently commented on KC. Jefferies Financial Group raised their target price on Kingsoft Cloud from $3.40 to $3.80 and gave the company a "buy" rating in a research report on Monday, March 25th. Citigroup upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $5.00 target price on the stock in a research report on Thursday, March 21st. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a "neutral" rating to an "overweight" rating in a research report on Monday, March 11th. Finally, CLSA upgraded Kingsoft Cloud from an "underperform" rating to an "outperform" rating and set a $4.40 target price on the stock in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.55.

Kingsoft Cloud Stock Down 4.1 %

The firm has a market cap of $657.06 million, a price-to-earnings ratio of -2.01 and a beta of 2.13. The company has a 50-day moving average price of $2.97 and a 200 day moving average price of $3.69.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The business had revenue of $242.60 million during the quarter, compared to analyst estimates of $240.44 million. Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. Equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.45 EPS for the current year.

Institutional Trading of Kingsoft Cloud

Several hedge funds and other institutional investors have recently modified their holdings of KC. PNC Financial Services Group Inc. raised its holdings in Kingsoft Cloud by 220.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company's stock valued at $30,000 after buying an additional 3,400 shares in the last quarter. Rhumbline Advisers raised its holdings in Kingsoft Cloud by 98.6% during the third quarter. Rhumbline Advisers now owns 5,600 shares of the company's stock valued at $28,000 after buying an additional 2,780 shares in the last quarter. Royal Bank of Canada raised its holdings in Kingsoft Cloud by 101.6% during the second quarter. Royal Bank of Canada now owns 7,938 shares of the company's stock valued at $48,000 after buying an additional 4,000 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Kingsoft Cloud during the third quarter valued at about $53,000. Finally, Engineers Gate Manager LP bought a new position in Kingsoft Cloud during the first quarter valued at about $67,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.