Kingsoft Cloud (NASDAQ:KC) Stock Price Down 4.1% – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares traded down 4.1% during trading on Monday . The stock traded as low as $8.64 and last traded at $8.78. 775,104 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,741,079 shares. The stock had previously closed at $9.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KC shares. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Bank of America reduced their price objective 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, August 21st. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Performance

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 stock’s 50 day moving average is $5.19 and its 200 day moving average is $3.52. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -7.08 and a beta of 2.49.

Institutional Trading of Kingsoft Cloud

Several large investors have recently modified their holdings of the business. Jane Street Group LLC raised its stake in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after purchasing an additional 255,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud during the third quarter worth about $326,000. GSA Capital Partners LLP raised its position in shares of Kingsoft Cloud by 90.2% in the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after buying an additional 81,751 shares during the last quarter. XY Capital Ltd purchased a new position in shares of Kingsoft Cloud during the third quarter valued at approximately $214,000. Finally, Walleye Capital LLC acquired a new stake in Kingsoft Cloud during the third quarter worth approximately $119,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

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.