Kingsoft Cloud Holdings Limited (NASDAQ:KC) Sees Significant Decline in Short Interest

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 7,110,000 shares, a decline of 8.4% from the May 31st total of 7,760,000 shares. Based on an average daily volume of 920,400 shares, the short-interest ratio is currently 7.7 days.

Kingsoft Cloud Trading Down 1.2 %

NASDAQ KC traded down $0.03 on Tuesday, reaching $2.45. The company had a trading volume of 503,185 shares, compared to its average volume of 1,145,942. The stock’s 50 day moving average is $2.96 and its 200-day moving average is $2.98. The stock has a market cap of $621.54 million, a price-to-earnings ratio of -2.17 and a beta of 2.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. Kingsoft Cloud has a 52 week low of $2.34 and a 52 week high of $7.42.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The company had revenue of $245.93 million during the quarter, compared to the consensus estimate of $244.03 million. Kingsoft Cloud had a negative net margin of 27.62% and a negative return on equity of 25.61%. Equities analysts predict that Kingsoft Cloud will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently modified their holdings of KC. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kingsoft Cloud by 11.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock worth $1,241,000 after buying an additional 33,411 shares in the last quarter. Jump Financial LLC bought a new position in shares of Kingsoft Cloud during the fourth quarter worth about $136,000. Russell Investments Group Ltd. grew its holdings in shares of Kingsoft Cloud by 35.6% during the fourth quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after buying an additional 15,913 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Kingsoft Cloud by 50.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after buying an additional 5,126 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after buying an additional 20,084 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KC has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research report on Monday, March 11th. Jefferies Financial Group boosted their price target on Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research note on Monday, March 25th. Citigroup raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, March 21st. Finally, CLSA raised Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target on the stock in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.55.

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.