Kingsoft Cloud (NASDAQ:KC) Shares Gap Up – Here’s What Happened

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares gapped up before the market opened on Monday . The stock had previously closed at $15.43, but opened at $16.30. Kingsoft Cloud shares last traded at $16.33, with a volume of 1,270,507 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on KC. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Nomura Securities downgraded Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, UBS Group raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kingsoft Cloud presently has a consensus rating of “Hold” and a consensus price target of $6.55.

Kingsoft Cloud Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day simple moving average of $15.49 and a 200-day simple moving average of $9.03. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -13.13 and a beta of 2.23.

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

Institutional Investors Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently modified their holdings of KC. Walleye Capital LLC purchased a new stake in Kingsoft Cloud in the 3rd quarter valued at approximately $119,000. Marshall Wace LLP purchased a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $119,000. Vise Technologies Inc. purchased a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $125,000. Cetera Investment Advisers purchased a new stake in Kingsoft Cloud in the 4th quarter valued at approximately $138,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after buying an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.