Short Interest in Kingsoft Cloud Holdings Limited (NASDAQ:KC) Declines By 13.3%

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 5,880,000 shares, a decline of 13.3% from the October 15th total of 6,780,000 shares. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is currently 2.5 days.

Kingsoft Cloud Stock Performance

Shares of KC opened at $5.05 on Monday. The firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $2.84. 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 firm has a market capitalization of $1.28 billion, a PE ratio of -4.90 and a beta of 2.00. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $5.64.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative return on equity of 24.99% and a negative net margin of 25.33%. The firm had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. On average, sell-side analysts anticipate that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Large investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the last quarter. State Street Corp lifted its holdings in shares of Kingsoft Cloud by 0.5% during the third 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 last quarter. Walleye Capital LLC acquired a new position in shares of Kingsoft Cloud in the 3rd quarter valued at $119,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kingsoft Cloud in the 3rd quarter worth about $326,000. Finally, GSA Capital Partners LLP raised its holdings in Kingsoft Cloud by 90.2% during the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after buying an additional 81,751 shares during the period. Institutional investors own 13.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America decreased their price objective 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.10.

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.