Kingsoft Cloud (NASDAQ:KC) Shares Gap Down – Should You Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down prior to trading on Friday . The stock had previously closed at $9.63, but opened at $9.27. Kingsoft Cloud shares last traded at $9.28, with a volume of 448,957 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KC shares. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. Bank of America decreased their price objective on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Finally, Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.93.

Kingsoft Cloud Stock Performance

The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -7.63 and a beta of 2.49. The stock’s 50-day simple moving average is $4.99 and its two-hundred day simple moving average is $3.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Institutional Trading of Kingsoft Cloud

Several hedge funds have recently added to or reduced their stakes in KC. Profund Advisors LLC bought a new stake in Kingsoft Cloud in the 2nd quarter valued at $27,000. Blue Trust Inc. bought a new position in shares of Kingsoft Cloud during the 2nd quarter worth about $36,000. SG Americas Securities LLC acquired a new position in shares of Kingsoft Cloud during the third quarter valued at about $47,000. Headlands Technologies LLC raised its position in shares of Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after buying an additional 24,932 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud in the third quarter valued at about $119,000. Institutional investors own 13.40% of the company’s stock.

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.