Kingsoft Cloud Holdings Limited (NASDAQ:KC – Get Free Report) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 8,530,000 shares, a decline of 11.7% from the October 15th total of 9,660,000 shares. Based on an average daily trading volume, of 967,300 shares, the days-to-cover ratio is presently 8.8 days.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group boosted their price target on Kingsoft Cloud from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 23rd.
Hedge Funds Weigh In On Kingsoft Cloud
Kingsoft Cloud Stock Performance
Kingsoft Cloud stock traded up $0.09 during trading on Friday, hitting $5.31. The company’s stock had a trading volume of 429,571 shares, compared to its average volume of 2,072,602. The stock’s fifty day moving average is $4.90 and its 200 day moving average is $5.38. Kingsoft Cloud has a 1-year low of $2.35 and a 1-year high of $10.13. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -3.65 and a beta of 2.40.
Kingsoft Cloud (NASDAQ:KC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 22nd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Kingsoft Cloud had a negative return on equity of 25.92% and a negative net margin of 30.85%. The company had revenue of $253.11 million for the quarter, compared to analysts’ expectations of $270.84 million. On average, research analysts anticipate that Kingsoft Cloud will post -1.04 EPS for the current fiscal year.
About Kingsoft Cloud
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.
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