Kingsoft Cloud (NASDAQ:KC) Trading 5.8% Higher – What’s Next?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares shot up 5.8% during mid-day trading on Wednesday . The company traded as high as $12.47 and last traded at $12.13. 626,966 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,489,948 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KC. Nomura lowered Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Nomura Securities lowered shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Kingsoft Cloud Trading Up 3.6 %

The company’s 50 day simple moving average is $16.50 and its two-hundred day simple moving average is $10.06. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -9.89 and a beta of 2.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

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

Hedge Funds Weigh In On Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kingsoft Cloud by 12.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. State Street Corp boosted its holdings in shares of Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares during the period. Two Sigma Advisers LP increased its position in Kingsoft Cloud by 13.8% during the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company’s stock worth $285,000 after buying an additional 3,300 shares during the period. Invesco Ltd. boosted its stake in shares of Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock valued at $659,000 after buying an additional 4,878 shares during the period. Finally, Marshall Wace LLP bought a new stake in Kingsoft Cloud during the fourth quarter worth about $119,000. 13.40% of the stock is 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.