Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Up 24.0% in November

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 7,290,000 shares, a growth of 24.0% from the October 31st total of 5,880,000 shares. Based on an average daily trading volume, of 3,080,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KC shares. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Bank of America lowered their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.62.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. State Street Corp grew its holdings in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after buying an additional 3,104 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud during the third quarter valued at approximately $119,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kingsoft Cloud in the third quarter worth $326,000. Finally, GSA Capital Partners LLP boosted its position in shares of Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after acquiring an additional 81,751 shares during the last quarter. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Stock Performance

Shares of NASDAQ KC traded up $0.73 during midday trading on Monday, hitting $7.42. 4,922,642 shares of the stock traded hands, compared to its average volume of 1,670,004. The firm has a market capitalization of $1.88 billion, a P/E ratio of -6.14 and a beta of 2.00. Kingsoft Cloud has a one year low of $2.02 and a one year high of $7.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a 50-day moving average of $3.86 and a two-hundred day moving average of $3.04.

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.