Kingsoft Cloud (NASDAQ:KC) Sees Strong Trading Volume – Here’s Why

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) saw unusually-high trading volume on Thursday . Approximately 1,579,669 shares were traded during trading, an increase of 1% from the previous session’s volume of 1,558,815 shares.The stock last traded at $5.83 and had previously closed at $6.53.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2.30 to $6.70 in a report on Friday. Bank of America lowered their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kingsoft Cloud currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.62.

Kingsoft Cloud Trading Up 24.7 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.01 and a beta of 2.00. The business’s 50-day moving average price is $3.41 and its two-hundred day moving average price is $2.93.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 18.26%. Research analysts predict that Kingsoft Cloud Holdings Limited will post -0.69 earnings per share for the current year.

Institutional Trading of Kingsoft Cloud

Institutional investors and hedge funds have recently made changes to their positions in the company. Profund Advisors LLC bought a new position in Kingsoft Cloud in the second quarter valued at about $27,000. Blue Trust Inc. bought a new stake in shares of Kingsoft Cloud during the 2nd quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the 3rd quarter worth approximately $47,000. Headlands Technologies LLC lifted 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 purchasing an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Kingsoft Cloud in the third quarter valued at approximately $119,000. Institutional investors own 13.40% of the company’s stock.

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.