Kingsoft Cloud (NASDAQ:KC) Hits New 12-Month Low – What’s Next?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) hit a new 52-week low on Friday. The stock traded as low as $7.46 and last traded at $7.4430, with a volume of 491,162 shares traded. The stock had previously closed at $7.86.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KC. The Goldman Sachs Group set a $18.00 price target on Kingsoft Cloud in a report on Tuesday, September 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Bank of America reissued a “buy” rating on shares of Kingsoft Cloud in a report on Wednesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Kingsoft Cloud in a research report on Thursday, October 15th. Finally, Zacks Research cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Kingsoft Cloud Price Performance

The stock has a 50-day moving average price of $9.01 and a 200 day moving average price of $11.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -26.96 and a beta of 2.15.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors have recently modified their holdings of KC. Vise Technologies Inc. raised its position in Kingsoft Cloud by 25.3% in the 3rd quarter. Vise Technologies Inc. now owns 21,627 shares of the company’s stock valued at $197,000 after purchasing an additional 4,371 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Kingsoft Cloud by 11.7% during the first quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock worth $442,000 after buying an additional 3,449 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Kingsoft Cloud during the second quarter worth about $588,000. Bank of America Corp DE increased its position in Kingsoft Cloud by 93.4% in the 1st quarter. Bank of America Corp DE now owns 165,504 shares of the company’s stock valued at $2,211,000 after acquiring an additional 79,910 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in Kingsoft Cloud in the 1st quarter valued at about $2,405,000. 13.40% of the stock is owned by institutional investors and hedge funds.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Ltd. is a China-based cloud services provider founded in 2012. The company offers cloud infrastructure and related technology services to businesses and other organizations. Its services include computing, storage, networking, content delivery, databases, security and artificial intelligence capabilities. Kingsoft Cloud also provides industry-focused cloud solutions, including services for sectors such as healthcare, finance and public services. The company serves customers primarily in China and has developed cloud offerings for a range of business needs, from digital infrastructure to application development and deployment.