Kingsoft Cloud (NASDAQ:KC) Trading 6.3% Higher

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) rose 6.3% during trading on Wednesday . The stock traded as high as $2.53 and last traded at $2.52. Approximately 247,969 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,063,954 shares. The stock had previously closed at $2.37.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.28.

Kingsoft Cloud Trading Down 1.2 %

The firm’s 50 day moving average is $2.57 and its 200 day moving average is $2.84. The company has a market cap of $618.99 million, a PE ratio of -2.16 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.89.

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

Hedge Funds Weigh In On Kingsoft Cloud

A number of hedge funds and other institutional investors have recently bought and sold shares of KC. Profund Advisors LLC bought a new stake in shares of Kingsoft Cloud in the 2nd quarter worth approximately $27,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud in the 2nd quarter worth approximately $36,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kingsoft Cloud by 50.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock worth $58,000 after acquiring an additional 5,126 shares during the last quarter. Headlands Technologies LLC raised its holdings in Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Kingsoft Cloud during the 4th quarter valued at $136,000. Hedge funds and other 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.