Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Time to Sell?

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down prior to trading on Friday . The stock had previously closed at $12.37, but opened at $12.11. Kingsoft Cloud shares last traded at $11.88, with a volume of 286,985 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KC. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price target for the company in a report on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th.

Kingsoft Cloud Stock Performance

The company has a 50-day moving average of $12.96 and a 200-day moving average of $12.93. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.29 billion, a PE ratio of -9.98 and a beta of 2.12.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KC. D. E. Shaw & Co. Inc. purchased a new position in Kingsoft Cloud during the fourth quarter valued at $21,076,000. Voloridge Investment Management LLC purchased a new position in shares of Kingsoft Cloud in the fourth quarter worth $16,345,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Kingsoft Cloud by 50.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company’s stock worth $17,482,000 after purchasing an additional 410,492 shares during the last quarter. Millennium Management LLC raised its stake in shares of Kingsoft Cloud by 4,098.3% in the fourth quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock worth $9,389,000 after purchasing an additional 873,686 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company’s stock worth $9,105,000 after purchasing an additional 356,834 shares during the last quarter. 13.40% of the stock is currently owned by institutional investors.

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.