Kingsoft Cloud (NASDAQ:KC) Stock Price Up 5.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Rating)’s stock price rose 5.3% during mid-day trading on Wednesday . The stock traded as high as $5.04 and last traded at $5.00. Approximately 19,356 shares traded hands during trading, a decline of 100% from the average daily volume of 4,027,021 shares. The stock had previously closed at $4.75.

Wall Street Analyst Weigh In

Separately, China Renaissance cut Kingsoft Cloud from a “hold” rating to a “sell” rating in a research report on Monday.

Kingsoft Cloud Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.78 and a beta of 1.72. The business has a 50-day moving average of $3.44 and a 200-day moving average of $3.15.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently made changes to their positions in KC. PNC Financial Services Group Inc. raised its stake in Kingsoft Cloud by 220.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock valued at $30,000 after acquiring an additional 3,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kingsoft Cloud by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 130,987 shares of the company’s stock valued at $796,000 after acquiring an additional 5,343 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Kingsoft Cloud during the 2nd quarter valued at approximately $45,000. Engineers Gate Manager LP purchased a new stake in Kingsoft Cloud during the 1st quarter valued at approximately $67,000. Finally, Vident Investment Advisory LLC raised its stake in Kingsoft Cloud by 81.3% during the 1st quarter. Vident Investment Advisory LLC now owns 25,589 shares of the company’s stock valued at $155,000 after acquiring an additional 11,478 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

About Kingsoft Cloud

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Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; and enterprise cloud services to customers in financial service, public service, and healthcare businesses.