Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month Low - Time to Sell?

Key Points

• Kingsoft Cloud hit a new 12-month low, trading as low as $7.46 and last at $7.44, down from its prior close of $7.86. Its share price is below its 50-day and 200-day moving averages of $9.06 and $11.83.
• Analyst views are mixed: four analysts rate the stock Buy, one Hold, and one Sell. MarketBeat reports a Moderate Buy consensus and an average price target of $16.67.
• Institutional investors and hedge funds own 13.4% of the stock; several firms recently increased holdings, while others initiated new positions.

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Get Free Report)'s share price hit a new 52-week low during trading on Friday. The stock traded as low as $7.46 and last traded at $7.4430, with a volume of 491,162 shares trading hands. The stock had previously closed at $7.86.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KC. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kingsoft Cloud in a report on Thursday, October 15th. Zacks Research lowered shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a report on Wednesday. The Goldman Sachs Group set a $18.00 target price on shares of Kingsoft Cloud in a research report on Tuesday, September 1st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Finally, Bank of America reiterated a "buy" rating on shares of Kingsoft Cloud in a research report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.67.

Kingsoft Cloud Price Performance

The stock's 50 day moving average is $9.06 and its two-hundred day moving average is $11.83. The stock has a market capitalization of $2.27 billion, a PE ratio of -26.84 and a beta of 2.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vise Technologies Inc. grew its stake in shares of Kingsoft Cloud by 25.3% during the third quarter. Vise Technologies Inc. now owns 21,627 shares of the company's stock worth $197,000 after purchasing an additional 4,371 shares in the last quarter. Cetera Investment Advisers raised its stake in Kingsoft Cloud by 11.7% in the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company's stock valued at $442,000 after buying an additional 3,449 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Kingsoft Cloud during the 2nd quarter worth about $588,000. Bank of America Corp DE lifted its holdings in Kingsoft Cloud by 93.4% during the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company's stock worth $2,211,000 after buying an additional 79,910 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Kingsoft Cloud during the 1st quarter worth about $2,405,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Ltd. is a China-based cloud services provider founded in 2012. The company offers cloud infrastructure and related technology services to businesses and other organizations. Its services include computing, storage, networking, content delivery, databases, security and artificial intelligence capabilities. Kingsoft Cloud also provides industry-focused cloud solutions, including services for sectors such as healthcare, finance and public services. The company serves customers primarily in China and has developed cloud offerings for a range of business needs, from digital infrastructure to application development and deployment.

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