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

Kingsoft Cloud Holdings Limited (NASDAQ:KCGet 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

(Get Rating)

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.

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