Kingsoft Cloud (NASDAQ:KC) Sets New 12-Month Low – Should You Sell?

Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC)’s share price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.23 and last traded at $8.1780, with a volume of 91,519 shares trading hands. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KC shares. The Goldman Sachs Group set a $18.00 price objective on shares of Kingsoft Cloud in a research report on Tuesday, September 1st. Jefferies Financial Group reissued a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Bank of America reaffirmed a “buy” rating on shares of Kingsoft Cloud in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsoft Cloud in a report on Thursday, October 15th. Finally, Zacks Research upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Kingsoft Cloud Trading Up 4.7%

The firm’s 50 day moving average price is $9.78 and its 200 day moving average price is $11.62. The stock has a market capitalization of $2.56 billion, a P/E ratio of -30.32 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 1.01.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently modified their holdings of KC. Cetera Investment Advisers boosted its position in Kingsoft Cloud by 11.7% during the 1st quarter. Cetera Investment Advisers now owns 33,049 shares of the company’s stock valued at $442,000 after acquiring an additional 3,449 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of Kingsoft Cloud during the first quarter valued at $442,000. Blue Trust Inc. raised its holdings in Kingsoft Cloud by 39.2% in the first quarter. Blue Trust Inc. now owns 35,085 shares of the company’s stock worth $469,000 after buying an additional 9,881 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Kingsoft Cloud in the 2nd quarter worth $588,000. Finally, Bank of America Corp DE increased its holdings 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 worth $2,211,000 after buying an additional 79,910 shares in the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited is a China-based cloud service provider that offers infrastructure and technology services to businesses, government organizations and other institutions. The company provides public cloud, enterprise cloud and industry-specific cloud solutions designed to support computing, data storage, networking and digital transformation.

Its product and service portfolio includes cloud computing infrastructure, content delivery and networking services, databases, storage, information security and related technical support.