Kingsoft Cloud Holdings Limited (NASDAQ:KC) Sees Large Increase in Short Interest

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 9,450,000 shares, an increase of 6.4% from the August 15th total of 8,880,000 shares. Based on an average daily trading volume, of 881,200 shares, the days-to-cover ratio is currently 10.7 days.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kingsoft Cloud by 95.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after buying an additional 312,132 shares during the last quarter. Swedbank AB acquired a new stake in Kingsoft Cloud in the first quarter valued at approximately $649,000. Jump Financial LLC bought a new stake in Kingsoft Cloud in the fourth quarter worth approximately $136,000. Russell Investments Group Ltd. increased its stake in shares of Kingsoft Cloud by 35.6% during the 4th quarter. Russell Investments Group Ltd. now owns 60,595 shares of the company’s stock worth $229,000 after purchasing an additional 15,913 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Kingsoft Cloud by 50.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after purchasing an additional 5,126 shares in the last quarter. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Up 1.8 %

Shares of KC stock traded up $0.04 on Tuesday, reaching $2.22. 1,128,131 shares of the company’s stock traded hands, compared to its average volume of 1,061,292. The company has a market capitalization of $563.18 million, a P/E ratio of -2.03 and a beta of 1.98. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $5.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $2.78.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The business had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. On average, equities analysts forecast that Kingsoft Cloud will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut their target price on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Kingsoft Cloud currently has an average rating of “Moderate Buy” and an average price target of $4.10.

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.