Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $9.97, but opened at $9.55. Kingsoft Cloud shares last traded at $9.44, with a volume of 316,196 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KC. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.93.

Kingsoft Cloud Trading Up 0.2 %

The firm’s 50-day moving average price is $8.74 and its 200-day moving average price is $4.85. The company has a market cap of $2.42 billion, a P/E ratio of -7.95 and a beta of 2.29. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Trading of Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of KC. Jane Street Group LLC boosted its position in shares of Kingsoft Cloud by 383.5% during the 3rd 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 last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud during the third quarter valued at approximately $326,000. State Street Corp grew its stake in Kingsoft Cloud by 0.5% in 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 in the last quarter. Blue Trust Inc. increased its holdings in shares of Kingsoft Cloud by 30.9% in 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 last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at $47,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

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.