Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Update

Kingsoft Cloud Holdings Limited (NASDAQ:KC) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 6,780,000 shares, a decrease of 9.4% from the September 30th total of 7,480,000 shares. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kingsoft Cloud by 95.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 640,486 shares of the company’s stock worth $1,947,000 after buying an additional 312,132 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after purchasing an additional 17,700 shares during the period. Swedbank AB lifted its position in shares of Kingsoft Cloud by 5.5% in the second quarter. Swedbank AB now owns 225,140 shares of the company’s stock worth $565,000 after purchasing an additional 11,800 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Kingsoft Cloud by 33.6% during the first quarter. Sei Investments Co. now owns 139,988 shares of the company’s stock worth $426,000 after purchasing an additional 35,175 shares during the period. Finally, Headlands Technologies LLC grew its position in Kingsoft Cloud by 313.9% during the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares in the last quarter. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Kingsoft Cloud Stock Performance

NASDAQ:KC traded down $0.07 during mid-day trading on Wednesday, hitting $2.86. The stock had a trading volume of 2,950,712 shares, compared to its average volume of 1,363,703. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $5.80. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $725.54 million, a price-to-earnings ratio of -2.84 and a beta of 2.00. The company has a 50 day simple moving average of $2.69 and a 200-day simple moving average of $2.75.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 25.33% and a negative return on equity of 24.99%. The company had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. On average, research analysts expect that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America reduced their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.10.

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.