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

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) gapped down before the market opened on Monday . The stock had previously closed at $20.67, but opened at $19.72. Kingsoft Cloud shares last traded at $18.37, with a volume of 2,114,940 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -15.54 and a beta of 2.30. The business has a fifty day moving average of $13.01 and a 200 day moving average of $7.17.

Institutional Trading of Kingsoft Cloud

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in Kingsoft Cloud in the 4th quarter worth approximately $609,000. GTS Securities LLC acquired a new position in Kingsoft Cloud in the 4th quarter valued at $325,000. Vise Technologies Inc. bought a new position in Kingsoft Cloud in the 4th quarter worth $125,000. Voloridge Investment Management LLC bought a new stake in Kingsoft Cloud during the fourth quarter valued at about $16,345,000. Finally, Vident Advisory LLC grew its position in shares of Kingsoft Cloud by 158.9% in the fourth quarter. Vident Advisory LLC now owns 89,794 shares of the company’s stock valued at $942,000 after purchasing an additional 55,113 shares during the last quarter. 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.