In the last trading session, 1.1 million Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares changed hands as the company’s beta touched 0. With the company’s per share price at $33.80 changed hands at $0.01 or 0.03% during last session, the market valuation stood at $7.56B. KC’s last price was a discount, traded about -120.92% off its 52-week high of $74.67. The share price had its 52-week low at $23.81, which suggests the last value was 29.56% up since then. When we look at Kingsoft Cloud Holdings Limited’s average trading volume, we note the 10-day average is 1.06 million shares, with the 3-month average coming to 1.76 million.
Analysts gave the Kingsoft Cloud Holdings Limited (KC) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended KC as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Kingsoft Cloud Holdings Limited’s EPS for the current quarter is expected to be -$0.95.
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Instantly KC was in green as seen at the end of in last trading. With action 0.27%, the performance over the past five days has been green. The jump to weekly highs of 36.31 on Friday, 09/10/21 added 0.03% to the stock’s daily price. The company’s shares are showing year-to-date downside of -22.39%, with the 5-day performance at 0.27% in the green. However, in the 30-day time frame, Kingsoft Cloud Holdings Limited (NASDAQ:KC) is 17.65% up. Looking at the short shares, we see there were 5.71 million shares sold at short interest cover period of 4.15 days.
The consensus price target for the stock as assigned by Wall Street analysts is $301.49, meaning bulls need an upside of 88.79% from its current market value. According to analyst projections, KC’s forecast low is $265.45 with $356.09 as the target high. To hit the forecast high, the stock’s price needs a -953.52% plunge from its current level, while the stock would need to soar -685.36% for it to hit the projected low.
Kingsoft Cloud Holdings Limited (KC) estimates and forecasts
Data shows that the Kingsoft Cloud Holdings Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -35.59% over the past 6 months, a 39.47% in annual growth rate that is considerably higher than the industry average of -1.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Kingsoft Cloud Holdings Limited will fall -295.80%, while the growth in revenue is estimated to hit -566.70% for the next quarter. Year-over-year growth is forecast to reach 878.00% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $2.17 billion. 9 analysts are of the opinion that Kingsoft Cloud Holdings Limited’s revenue for the quarter ending Sep 2021 will be $2.66 billion. The company’s revenue for the corresponding quarters a year ago was $229.34 million and $263.39 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 847.80%. The estimates for the next quarter sales put growth at 908.50%.
The 2021 estimates are for Kingsoft Cloud Holdings Limited earnings to decrease by -5.80%.
Kingsoft Cloud Holdings Limited is expected to release its next quarterly earnings report between August 16 and August 20.
Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.58% of Kingsoft Cloud Holdings Limited shares while 30.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 31.03%. There are 30.54% institutions holding the Kingsoft Cloud Holdings Limited stock share, with Baillie Gifford and Company the top institutional holder. As of Mar 30, 2021, the company held 3.26% of the shares, roughly 7.29 million KC shares worth $286.54 million.
Canada Pension Plan Investment Board holds the second largest percentage of outstanding shares, with 3.16% or 7.07 million shares worth $277.89 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were First Tr Exchange Traded Fd II-First Tr Cloud Computing ETF and Baillie Gifford Emerging Markets Equities Fund. With 3.74 million shares estimated at $145.9 million under it, the former controlled 1.67% of total outstanding shares. On the other hand, Baillie Gifford Emerging Markets Equities Fund held about 0.70% of the shares, roughly 1.57 million shares worth around $61.58 million.