Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $11.35, but opened at $11.01. Kingsoft Cloud shares last traded at $11.01, with a volume of 368,587 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KC shares. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Price Performance

The company has a market capitalization of $2.63 billion, a PE ratio of -8.65 and a beta of 2.29. The stock has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $4.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Profund Advisors LLC bought a new stake in Kingsoft Cloud during the second quarter worth approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $47,000. Blue Trust Inc. boosted its holdings in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after buying an additional 4,458 shares during the period. Headlands Technologies LLC grew its stake in Kingsoft Cloud by 313.9% in 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, Walleye Capital LLC bought a new position in Kingsoft Cloud in the 3rd quarter worth $119,000. Institutional investors and hedge funds 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.