Kingsoft Cloud (NASDAQ:KC) Shares Up 9.9% – Here’s What Happened

Shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) rose 9.9% during mid-day trading on Monday . The company traded as high as $12.27 and last traded at $12.31. Approximately 743,004 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,653,462 shares. The stock had previously closed at $11.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating in a report on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsoft Cloud in a research report on Wednesday, October 8th. Zacks Research raised Kingsoft Cloud from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen raised Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Kingsoft Cloud in a research report on Tuesday, September 16th. They set a “buy” rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.27.

Kingsoft Cloud Stock Performance

The firm has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $13.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -10.86 and a beta of 2.14.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Wednesday, November 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $347.85 million for the quarter, compared to analyst estimates of $346.37 million. Kingsoft Cloud had a negative net margin of 24.26% and a negative return on equity of 18.02%. Kingsoft Cloud’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business posted ($0.29) EPS. On average, sell-side analysts expect that Kingsoft Cloud Holdings Limited Sponsored ADR will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

A number of hedge funds have recently bought and sold shares of KC. Hsbc Holdings PLC acquired a new stake in shares of Kingsoft Cloud during the 1st quarter valued at about $176,000. Farther Finance Advisors LLC acquired a new stake in Kingsoft Cloud during the second quarter valued at approximately $100,000. ABC Arbitrage SA boosted its holdings in Kingsoft Cloud by 49.0% during the second quarter. ABC Arbitrage SA now owns 134,331 shares of the company’s stock valued at $1,682,000 after purchasing an additional 44,206 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Kingsoft Cloud by 596.3% in the 1st quarter. Cetera Investment Advisers now owns 91,662 shares of the company’s stock valued at $1,316,000 after purchasing an additional 78,498 shares during the period. Finally, Dorsey Wright & Associates acquired a new position in shares of Kingsoft Cloud in the 1st quarter worth approximately $2,044,000. 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.