Kingsoft Cloud (NASDAQ:KC) Stock Price Down 6.2% – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) dropped 6.2% during mid-day trading on Wednesday . The stock traded as low as $17.13 and last traded at $16.97. Approximately 976,174 shares were traded during trading, a decline of 74% from the average daily volume of 3,780,907 shares. The stock had previously closed at $18.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura Securities lowered Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Kingsoft Cloud Stock Performance

The company’s 50-day moving average price is $14.43 and its two-hundred day moving average price is $8.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.41 billion, a P/E ratio of -14.42 and a beta of 2.23.

Institutional Investors Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently made changes to their positions in KC. GSA Capital Partners LLP increased its position in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kingsoft Cloud during the third quarter worth $326,000. Walleye Capital LLC bought a new stake in Kingsoft Cloud in the third quarter valued at about $119,000. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Kingsoft Cloud by 383.5% during the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the period. 13.40% of the stock is owned by institutional investors and hedge funds.

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.