Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Drops By 8.4%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 7,110,000 shares, a decline of 8.4% from the May 31st total of 7,760,000 shares. Based on an average trading volume of 920,400 shares, the short-interest ratio is currently 7.7 days.

Institutional Investors Weigh In On Kingsoft Cloud

Several large investors have recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of Kingsoft Cloud during the first quarter valued at approximately $649,000. Sei Investments Co. grew its stake in shares of Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after buying an additional 35,175 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kingsoft Cloud by 95.1% during the first 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. Artisan Partners Limited Partnership grew its stake in shares of Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after buying an additional 20,084 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Kingsoft Cloud by 50.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,325 shares of the company’s stock valued at $58,000 after buying an additional 5,126 shares during the last quarter. 13.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KC has been the topic of several research analyst reports. Citigroup upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Thursday, March 21st. Jefferies Financial Group boosted their price objective on Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research report on Monday, March 25th. CLSA raised Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 target price on the stock in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.55.

Kingsoft Cloud Price Performance

Shares of KC stock traded up $0.15 during trading hours on Wednesday, hitting $2.60. The stock had a trading volume of 679,601 shares, compared to its average volume of 1,142,279. The stock’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $2.98. 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 has a one year low of $2.34 and a one year high of $7.42. The stock has a market capitalization of $659.59 million, a price-to-earnings ratio of -2.28 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $244.03 million. Equities analysts forecast that Kingsoft Cloud will post -0.45 EPS for the current year.

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.