Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Increases By 6.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 8,880,000 shares, an increase of 6.3% from the July 31st total of 8,350,000 shares. Based on an average daily volume of 829,900 shares, the short-interest ratio is presently 10.7 days.

Wall Street Analyst Weigh In

Separately, Bank of America cut their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.10.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 95.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock valued at $1,947,000 after purchasing an additional 312,132 shares during the period. Swedbank AB purchased a new position in Kingsoft Cloud during the 1st quarter valued at about $649,000. Jump Financial LLC purchased a new position in Kingsoft Cloud during the 4th quarter valued at about $136,000. Sei Investments Co. increased its holdings in Kingsoft Cloud by 33.6% during the 1st quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock valued at $426,000 after purchasing an additional 35,175 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Kingsoft Cloud by 313.9% during 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 period. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Trading Down 4.3 %

NASDAQ KC opened at $2.23 on Wednesday. The stock’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $2.83. Kingsoft Cloud has a twelve month low of $2.20 and a twelve month high of $5.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $565.72 million, a price-to-earnings ratio of -1.97 and a beta of 2.00.

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.