Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Rating) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 7,410,000 shares, a decrease of 18.0% from the May 31st total of 9,040,000 shares. Based on an average trading volume of 4,140,000 shares, the short-interest ratio is currently 1.8 days.
KC stock traded down $0.02 during midday trading on Tuesday, hitting $4.73. The stock had a trading volume of 55,443 shares, compared to its average volume of 3,070,779. The firm has a market cap of $1.15 billion, a P/E ratio of -4.09 and a beta of 2.19. The business has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $6.85. Kingsoft Cloud has a 1-year low of $2.50 and a 1-year high of $36.31.
Kingsoft Cloud (NASDAQ:KC – Get Rating) last released its earnings results on Wednesday, June 8th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.05). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.19 billion. Kingsoft Cloud had a negative net margin of 18.70% and a negative return on equity of 16.63%. The firm’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) EPS. Analysts predict that Kingsoft Cloud will post -0.98 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Kingsoft Cloud by 220.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock valued at $30,000 after purchasing an additional 3,400 shares in the last quarter. ETF Managers Group LLC grew its stake in shares of Kingsoft Cloud by 6.6% in the 4th quarter. ETF Managers Group LLC now owns 58,291 shares of the company’s stock worth $920,000 after acquiring an additional 3,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kingsoft Cloud by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 130,987 shares of the company’s stock valued at $796,000 after purchasing an additional 5,343 shares during the last quarter. Aviva PLC lifted its position in shares of Kingsoft Cloud by 32.8% during the fourth quarter. Aviva PLC now owns 27,155 shares of the company’s stock valued at $428,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings in Kingsoft Cloud by 17.6% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 52,221 shares of the company’s stock worth $822,000 after purchasing an additional 7,830 shares during the last quarter. Hedge funds and other institutional investors own 36.42% of the company’s stock.
KC has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Kingsoft Cloud from a “neutral” rating to an “underweight” rating in a research note on Monday, March 14th. Citigroup dropped their price target on Kingsoft Cloud from $10.00 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Kingsoft Cloud in a research note on Sunday, April 10th. They issued a “hold” rating and a $9.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.00.
About Kingsoft Cloud (Get Rating)
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; and enterprise cloud services to customers in financial service, public service, and healthcare businesses.
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