Kingsoft Cloud (NASDAQ:KC) Trading Down 6.2% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s share price fell 6.2% during trading on Wednesday . The stock traded as low as $17.13 and last traded at $16.97. 976,174 shares changed hands during trading, a decline of 74% from the average session volume of 3,780,907 shares. The stock had previously closed at $18.09.

Analysts Set New Price Targets

Several analysts recently commented on KC shares. UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Nomura lowered shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, Nomura Securities lowered Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kingsoft Cloud has an average rating of “Moderate Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Performance

The stock’s 50 day simple moving average is $14.69 and its two-hundred day simple moving average is $8.32. The company has a market capitalization of $4.25 billion, a P/E ratio of -13.95 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after acquiring an additional 2,200 shares during the last quarter. Jane Street Group LLC increased its position in 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 during the period. Yeomans Consulting Group Inc. bought a new stake in Kingsoft Cloud during the 4th quarter worth about $318,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kingsoft Cloud during the 3rd quarter worth about $326,000. Finally, State Street Corp lifted its position 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 purchasing an additional 3,104 shares during the period. Institutional investors own 13.40% of the company’s stock.

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.